DADA PARTNERS ADVISES NISHAT GROUP ON THE LARGEST PRIVATE SECTOR CROSS-BORDER ACQUISITION OF A LISTED COMPANY IN PAKISTAN’S CORPORATE HISTORY

KARACHI: Dada Partners (Private) Limited acted as exclusive financial advisor to the Nishat Group on acquiring a controlling stake in Rafhan Maize Products Company Limited. This is the largest private sector cross border M&A transaction of a listed company in Pakistan, excluding privatizations.

This landmark transaction, totaling approximately PKR 66 billion, entailed the acquisition of 73.9% shares of the Company by the Nishat Group. 51% was purchased from the majority shareholder Ingredion Incorporated, USA, which has retained a strategic minority shareholding. An additional 20.5% was purchased from a minority shareholder and 2.4% through the mandatory public offer. As a result, the Nishat Group now has a super-majority interest of 75.9%.

In this multifaceted transaction, Dada Partners advised the group across all stages of the process, including deal origination, due diligence and valuation, competitive bidding and negotiation, execution of share purchase agreement and transfer of controlling stake. The process also covered the post-transaction governance framework between Nishat Group and Ingredion as a continuing minority shareholder, regulatory approvals for competition, the public offer and foreign exchange remittance, and bank FCY acquisition financing.

Commenting on the transaction, Shazad Dada, Founder and Managing Partner of Dada Partners, said, “We are delighted to have advised Nishat Group on this historic cross-border acquisition, bringing together one of Pakistan’s largest business groups and a global multinational. Its successful completion demonstrates that local investors continue to have an interest in marquee assets while international groups continue to view Pakistan favorably by collaborating with strong local partners.

I would like to thank the Mansha family for their strategic vision on this acquisition and their trust in Dada Partners. We also appreciate the collaboration with Ingredion, the Monnoo family, our fellow advisors, legal counsels, the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan and the Competition Commission of Pakistan for their support in bringing this transaction to a successful close.”

The successful completion of this transaction marks a significant milestone for Nishat Group’s expansion into Pakistan’s food processing sector and focus on value added exports, while reinforcing Dada Partners’ track record in advising on complex mergers and acquisitions involving cross-border execution, regulatory approvals, sophisticated financing structures and multi-party stakeholder coordination.

Dada Partners acted as the exclusive financial advisor to the Nishat Group throughout the transaction, while Cornelius, Lane and Mufti (CLM) served as legal counsel, and Next Capital were the Manager to the Offer on the public offer. Dubai Islamic Bank were the foreign currency lender to the transaction.

About Dada Partners

Dada Partners (Private) Limited, established in 2023, is an independent boutique advisory firm based in Pakistan, providing mergers and acquisitions, capital markets, and corporate finance and restructuring advisory to leading local and regional corporate and institutional clients.

Recently, Dada Partners advised Amreli Steels Limited on one of the largest debt restructurings in Pakistan and has now advised Nishat Group on its landmark private sector cross-border acquisition of a controlling stake in Rafhan Maize from Ingredion Incorporated. Dada Partners continues to establish itself as a trusted, independent advisor on some of the most significant transactions in the Pakistani market.

PM Shehbaz Sharif Orders Full Digitization of Overseas Remittances to Promote Digital Payments

Prime Minister Shehbaz Sharif has directed authorities to take steps toward making overseas remittances 100 percent digital as part of the government’s broader strategy to expand digital payments and improve financial transparency in Pakistan.

The directive was issued during a meeting on digital payments held in Islamabad on Tuesday, where the prime minister reviewed progress on the country’s digital financial transformation initiatives. He instructed relevant authorities to accelerate efforts aimed at increasing the use of secure and technology-based payment systems.

During the meeting, PM Shehbaz emphasized the need to strengthen awareness campaigns to encourage merchants and businesses to adopt QR code-based payment systems. He said expanding digital payment options would help create a more modern, efficient, and transparent financial ecosystem.

The prime minister was informed that significant progress has already been made in the digitization of overseas remittances. According to officials, around 92 percent of remittances were received through digital channels during the last fiscal year, showing growing acceptance of electronic financial services among overseas Pakistanis.

The government believes that shifting remittances completely to digital platforms will improve transaction security, reduce dependence on informal channels, and provide better monitoring of foreign currency inflows. Digital systems can also make it easier for overseas Pakistanis to send money quickly and conveniently to their families.

Financial experts note that remittances play a crucial role in Pakistan’s economy by supporting foreign exchange reserves, household incomes, and economic activity. With millions of Pakistanis working abroad, ensuring efficient and transparent remittance channels remains a key policy priority.

The adoption of QR code payments is also expected to support small businesses, retailers, and service providers by reducing reliance on cash transactions. Digital payment solutions can help merchants maintain transaction records, improve financial inclusion, and connect more people with formal banking services.

The government has been promoting digital transformation across various sectors, including banking, taxation, commerce, and public services. Officials believe that increased digital adoption can contribute to greater economic documentation and improved access to financial services.

PM Shehbaz Sharif directed authorities to continue working with banks, financial institutions, and technology companies to expand digital payment infrastructure across the country. The goal is to create an environment where digital transactions become easier, safer, and more accessible for citizens and businesses.

The latest initiative reflects Pakistan’s growing focus on building a digital economy where technology-driven financial services support economic growth, transparency, and inclusion.

PCB Likely to Stage Four-Team One-Day Tournament in Multan Ahead of 2027 World Cup

The Pakistan Cricket Board (PCB) is expected to organize a four-team One Day tournament in Multan from August 11 to 18 as part of its long-term preparations for the 2027 ICC Men’s Cricket World Cup. The proposed event is aimed at strengthening Pakistan’s ODI squad by providing top players with competitive match practice.

The tournament is likely to feature the country’s leading white-ball cricketers, giving selectors and the coaching staff an opportunity to evaluate players in a high-quality domestic environment. The competition is expected to play an important role in identifying the core group that will form the foundation of Pakistan’s World Cup campaign.

According to reports, participation in the tournament will be mandatory for national white-ball players. PCB officials want to ensure that all leading ODI cricketers are available for selection and assessment as the board begins planning well in advance for cricket’s biggest 50-over event.

The tournament is expected to offer players valuable match experience while allowing the team management to test combinations, assess individual performances, and evaluate emerging talent. Strong performances could boost the chances of domestic players pushing for national selection ahead of future international assignments.

Multan has become one of Pakistan’s prominent cricket venues in recent years, regularly hosting international fixtures and domestic competitions. Its modern facilities and favorable playing conditions make it a suitable location for an event designed to prepare players for high-pressure international cricket.

The PCB has increasingly focused on strengthening the domestic structure to ensure a consistent pipeline of talent for the national team. Competitive tournaments featuring Pakistan’s top cricketers are considered an essential part of building squad depth and maintaining performance standards ahead of major ICC events.

With the 2027 ICC Men’s Cricket World Cup still more than a year away, the board appears to be adopting a long-term strategy by giving selectors sufficient time to monitor players, develop combinations, and build a balanced ODI squad capable of competing on the global stage.

While the schedule and participating teams are yet to receive official confirmation, the proposed four-team tournament is expected to become an important milestone in Pakistan’s preparations. Cricket fans will be closely watching the competition as it could shape the future of Pakistan’s one-day squad and influence selections for upcoming international series.

Date and Time Confirmed for First Total Solar Eclipse of 2026: Where and When to Watch the Rare Celestial Event

A rare total solar eclipse is set to captivate millions of skywatchers around the world on August 12, 2026, marking the first total solar eclipse of the year. The highly anticipated astronomical event will offer a spectacular view as the Moon completely passes in front of the Sun, temporarily turning day into twilight for those located within the path of totality.

The eclipse is expected to attract astronomers, photographers, travelers, and science enthusiasts eager to witness one of nature’s most extraordinary phenomena. While people outside the path of totality may still experience a partial solar eclipse, only those within the Moon’s central shadow will be able to enjoy the full spectacle.

According to the confirmed eclipse path, the Moon’s shadow will travel across Greenland, Iceland, northern Russia, the Atlantic Ocean, Spain, and a small section of Portugal. These locations will have the opportunity to witness totality, where the Sun is completely obscured for a brief period.

Spain is expected to become one of the most popular viewing destinations due to its accessibility and favorable weather conditions during August. Experts anticipate an increase in tourism as visitors from across Europe and other regions travel to experience the celestial event firsthand.

Astronomers advise people planning to observe the eclipse to prepare in advance by selecting safe viewing locations and using certified solar viewing glasses during all partial phases of the eclipse. Looking directly at the Sun without proper eye protection can cause permanent eye damage, even during an eclipse.

During the brief period of totality, however, observers within the eclipse’s central path can safely view the Sun’s outer atmosphere, known as the corona, without eclipse glasses. This dazzling halo of light is only visible during a total solar eclipse and is considered one of astronomy’s most breathtaking sights.

The exact viewing time will vary depending on the observer’s location along the eclipse path. Local astronomical organizations and observatories are expected to publish detailed schedules closer to the event, allowing residents and visitors to plan their observations with precision.

Total solar eclipses occur because the apparent sizes of the Sun and Moon align almost perfectly as viewed from Earth. Although solar eclipses happen somewhere on Earth every year or two, a total eclipse at any specific location is exceptionally rare, often occurring only once in several centuries.

Scientists also use these events to study the Sun’s corona, solar activity, and atmospheric conditions. Beyond their scientific importance, total solar eclipses continue to inspire public interest in astronomy and space science around the world.

With the countdown underway, the August 12, 2026 total solar eclipse is expected to become one of the year’s most remarkable astronomical events, offering an unforgettable experience for those fortunate enough to stand beneath the Moon’s shadow.

Karachi Reopens Major Sections of University Road to Improve Traffic Flow

Karachi commuters have received welcome relief as authorities reopened several newly completed sections of University Road, a key development in the city’s ongoing road infrastructure upgrade project.

According to officials, both carriageways between Hassan Square and Jail Road are now open to traffic in both directions. The reopening is expected to improve vehicle movement along one of Karachi’s busiest and most congested routes.

University Road serves as a vital transportation corridor, connecting residential neighborhoods, educational institutions, commercial centers, and healthcare facilities across the city. The reopening of these sections is expected to reduce travel times and ease daily traffic congestion for thousands of motorists.

The road improvement project has been underway for an extended period, causing diversions and delays for commuters. With the completion of the newly reconstructed carriageways, traffic can now move more smoothly through this important stretch, bringing relief to regular road users.

Officials stated that restoring uninterrupted traffic flow is a major milestone in the broader infrastructure development initiative. The upgraded road is designed to enhance driving conditions, improve safety, and support the increasing volume of vehicles using the corridor each day.

Residents and commuters have welcomed the reopening, expressing hope that the improved road network will reduce bottlenecks during peak travel hours. Businesses operating along the route are also expected to benefit from easier accessibility and improved transportation links.

Urban infrastructure projects such as the University Road upgrade play an important role in supporting Karachi’s growing population and expanding transportation needs. Improved road connectivity can contribute to better mobility, lower travel costs, and greater efficiency for both public and private transport.

Authorities are expected to continue work on the remaining portions of the project while ensuring minimal disruption to traffic. Motorists have been advised to follow traffic instructions and exercise caution around any ongoing construction activity until the entire development is completed.

The reopening of the Hassan Square to Jail Road carriageways marks a significant step toward improving Karachi’s road network and reflects continued efforts to modernize the city’s transport infrastructure for residents and daily commuters.

Europe Heatwave Claims Nearly 10,000 Lives in June as Elderly Face Highest Risk

A devastating heatwave that swept across Europe in June claimed nearly 10,000 lives, highlighting the growing impact of extreme weather events linked to rising global temperatures.

According to European officials, the majority of those who died were older adults, with around 9,000 victims aged 65 or above. The figures underline the heightened vulnerability of elderly populations during prolonged periods of extreme heat.

The data was compiled from 27 European countries, providing a broad picture of the human toll caused by one of the continent’s most intense heatwaves in recent years. Health authorities continue to assess the long-term effects of extreme temperatures on public health systems.

England and Wales recorded approximately 2,700 heat-related deaths, making them among the hardest-hit regions during the June heatwave. France and Spain together reported more than 2,000 fatalities, reflecting the widespread impact of soaring temperatures across Western Europe.

Public health experts have warned that heatwaves are becoming more frequent, lasting longer, and reaching higher temperatures due to climate change. These conditions significantly increase the risk of heat exhaustion, dehydration, heatstroke, and cardiovascular complications, particularly among older adults and individuals with pre-existing medical conditions.

In addition to the elderly, other vulnerable groups include young children, people with chronic illnesses, outdoor workers, and individuals without access to adequate cooling. Authorities across Europe have repeatedly urged residents to stay hydrated, avoid prolonged exposure to direct sunlight, and check on family members and neighbors who may be at greater risk.

Scientists say climate change continues to intensify extreme weather patterns around the world, increasing the likelihood of severe heatwaves during the summer months. Rising global temperatures are placing additional pressure on healthcare systems, infrastructure, and emergency services as governments work to protect vulnerable communities.

Many European countries have expanded heat action plans, including public cooling centers, emergency weather alerts, and awareness campaigns designed to reduce heat-related illnesses and fatalities. Experts stress that long-term adaptation measures, alongside efforts to reduce greenhouse gas emissions, will be essential to limiting future climate-related health risks.

The latest figures serve as another reminder of the growing challenges posed by climate change and the importance of preparedness as extreme weather events become more common across Europe and other regions of the world.

Soya Supreme Cooking Oil Maker Plans Rs. 2.6 Billion PSX IPO to Expand Operations

Agro Processors & Atmospheric Gases Limited, the company behind Pakistan’s well-known Soya Supreme cooking oil brand, is preparing to enter the Pakistan Stock Exchange (PSX) with an initial public offering (IPO) worth up to Rs. 2.6 billion.

The Karachi-based company aims to raise fresh capital to support its long-term growth strategy. The IPO is expected to strengthen the company’s production capabilities while supporting investments in sustainable infrastructure and renewable energy.

According to Chief Executive Officer Ahmad Aziz Ghulamhussain, approximately 40 percent of the funds raised through the IPO will be allocated to expanding the company’s edible oil refining capacity. The planned investment will increase annual refining capacity by nearly one-third, reaching around 120,000 tonnes per year.

The expansion comes at a time when Pakistan’s edible oil industry continues to experience growing demand. By increasing production capacity, the company hopes to improve operational efficiency, meet rising consumer needs, and strengthen its position in the country’s competitive cooking oil market.

The remaining proceeds from the IPO will be used to develop a modern storage facility designed to improve inventory management and supply chain operations. Better storage infrastructure is expected to enhance product availability while supporting future business expansion.

In addition to operational improvements, Agro Processors & Atmospheric Gases Limited plans to invest in renewable energy initiatives. These include biomass and solar power projects that are expected to reduce energy costs and support environmentally responsible manufacturing practices.

The move reflects a broader trend among Pakistani manufacturers seeking to improve sustainability while lowering long-term operational expenses. Renewable energy investments have become increasingly important as companies work to manage energy challenges and improve production efficiency.

The planned IPO also highlights growing activity in Pakistan’s capital markets, with more local businesses exploring public listings to finance expansion projects. Access to equity financing allows companies to invest in technology, infrastructure, and production without relying solely on traditional borrowing.

Industry observers believe that expanding refining capacity alongside investments in renewable energy could help Agro Processors & Atmospheric Gases Limited improve competitiveness in the edible oil sector. The company’s focus on operational growth and sustainability may also attract investors looking for businesses with long-term expansion plans.

If completed successfully, the IPO will provide the financial resources needed to support the next phase of growth for the company behind the Soya Supreme brand, while contributing to greater industrial investment and modernization within Pakistan’s food processing sector.

Iran Criticizes US Decision to Expand UAE Defense Access Over Support for Operation Epic Fury

Iran has strongly criticized the United States after Washington announced expanded export privileges for the United Arab Emirates (UAE), alleging that Abu Dhabi supported Operation Epic Fury. Tehran has called for the UAE to be held accountable, arguing that the move could further heighten regional tensions.

The reaction follows a statement from the US Department of Commerce, which announced an upgrade to the UAE’s export status. According to the department, the decision recognizes the UAE’s designation as a major US defense partner and its support for Operation Epic Fury against Iran.

Under the updated policy, several export restrictions on the UAE will be eased. The changes are expected to allow license-free transfers of selected military and dual-use technologies while expanding the country’s access to advanced computing equipment and other high-tech exports.

US officials say the revised export framework reflects the growing strategic partnership between Washington and Abu Dhabi. The move is intended to strengthen defense cooperation, facilitate technology sharing, and support broader security objectives in the region.

Iran, however, has condemned the decision, describing it as a step that could undermine regional stability. Iranian officials argue that providing greater access to advanced defense-related technologies for countries involved in operations against Iran risks escalating geopolitical tensions in the Middle East.

The announcement comes amid ongoing regional security challenges and heightened diplomatic friction involving Iran, the United States, and several Gulf states. Military cooperation between Washington and its regional allies has remained a sensitive issue, particularly as concerns over security, maritime stability, and technological capabilities continue to shape strategic alliances.

The easing of export controls is expected to benefit the UAE by improving access to selected American technologies used in defense, aerospace, artificial intelligence, and advanced computing. Such measures are often designed to strengthen interoperability between defense partners while supporting innovation and national security objectives.

Analysts note that closer defense cooperation between the United States and the UAE could have broader implications for regional security dynamics. At the same time, Iran’s response highlights the continuing geopolitical competition and differing perspectives on military partnerships in the Gulf.

As diplomatic discussions continue, the development is likely to remain a focal point in relations between Tehran, Washington, and Abu Dhabi. Further statements from the involved governments are expected as the policy changes move toward implementation.

Punjab Safe Cities Authority Receives Prestigious International Award for Vehicle Crime Prevention

The Punjab Safe Cities Authority (PSCA) has earned international recognition after being selected by the International Association of Chiefs of Police (IACP), USA, as the recipient of the 2026 IACP Leadership in the Prevention of Vehicle Crimes Award.

The achievement highlights Pakistan’s growing use of technology and smart policing solutions to combat vehicle-related crimes and enhance public safety. The recognition places the PSCA among leading law enforcement organizations acknowledged for excellence in crime prevention and innovation.

According to the announcement, the award will be formally presented during the 2026 IACP Annual Awards Banquet, scheduled to take place at the conclusion of the IACP Annual Conference and Exposition in Orlando, Florida, on October 27, 2026.

The IACP Leadership in the Prevention of Vehicle Crimes Award honors organizations that have demonstrated exceptional commitment to reducing vehicle theft, recovering stolen vehicles, and implementing effective strategies that improve public security. The award recognizes innovative policing practices that deliver measurable results and contribute to safer communities.

The Punjab Safe Cities Authority has gained recognition for integrating advanced surveillance technologies, intelligent monitoring systems, and data-driven policing into law enforcement operations. Through its Safe City infrastructure, the authority supports police agencies by strengthening crime detection, emergency response, traffic management, and public safety initiatives across Punjab.

Officials say the international recognition reflects years of investment in smart policing and modern security infrastructure. The authority has continued to expand its use of digital technologies, including high-definition surveillance cameras, command and control centers, and intelligent monitoring systems that assist law enforcement in preventing and investigating crimes.

The award is expected to further strengthen Pakistan’s reputation in the field of technology-driven public safety. It also highlights the importance of international collaboration and the adoption of modern policing practices to address evolving security challenges.

Experts believe that recognition from one of the world’s leading law enforcement organizations demonstrates the effectiveness of technology-based crime prevention strategies. Such achievements can encourage greater investment in digital policing solutions and inspire similar initiatives in other regions of the country.

As the Punjab Safe Cities Authority prepares to receive the award in Orlando later this year, the recognition stands as a milestone for Pakistan’s law enforcement sector and reinforces the growing role of innovation in enhancing public safety and preventing vehicle-related crimes.

Educational Institutions Directed to Implement Anti-Harassment Policies Across Pakistan

The Supreme Court of Pakistan has ordered all educational institutions in the country to adopt a comprehensive anti-harassment policy aimed at ensuring a safe and respectful working environment for teachers, administrative staff, and other employees.

In a detailed 12-page judgment, Justice Muhammad Ali Mazhar restored the original punishment of a male teacher who had been found guilty of harassing a female colleague. The court also overturned the decision of the Punjab Service Tribunal, which had earlier reduced the severity of the disciplinary action.

The ruling is being viewed as a significant step toward strengthening workplace protections within the education sector. The Supreme Court emphasized that educational institutions have a legal and moral responsibility to provide a harassment-free environment where employees can perform their duties without fear of intimidation, discrimination, or misconduct.

According to the judgment, institutions must establish clear procedures for reporting complaints, conducting impartial investigations, and taking appropriate disciplinary action when allegations are proven. The court stressed that anti-harassment policies should not remain merely symbolic documents but must be actively implemented and monitored.

Legal experts say the decision reinforces existing protections available under Pakistan’s workplace harassment laws and sends a strong message that misconduct within educational settings will not be tolerated. The judgment is expected to encourage schools, colleges, and universities to review their internal policies and ensure compliance with the court’s directives.

Education sector stakeholders have welcomed the ruling, noting that a safe workplace is essential for maintaining professionalism and promoting equal opportunities. Teachers’ associations and rights advocates argue that stronger enforcement mechanisms can help increase confidence among employees who may otherwise hesitate to report harassment.

The court’s decision also highlights the importance of institutional accountability. By restoring the original punishment, the Supreme Court underscored that disciplinary measures should reflect the seriousness of harassment offenses and that leniency in such cases can undermine workplace safety.

Observers believe the judgment could have a broader impact beyond educational institutions by encouraging public and private organizations to strengthen their own anti-harassment frameworks. As Pakistan continues efforts to improve workplace protections, the ruling is likely to serve as a key reference point for future cases involving harassment and employee rights.

A Century of Rotary Service in Pakistan, Preserved in Print

Landmark anthology “From 1927 to Pakistan 2027: 100 Years of Rotary Service in Pakistan” launched at the Rotary International District 3271 Installation Ceremony

KARACHI, Pakistan — A century of humanitarian service found a permanent home this week as From 1927 to Pakistan 2027: 100 Years of Rotary Service in Pakistan was formally unveiled at the Rotary International District 3271 Installation Ceremony for 2026–27, which installed District Governor 2026-27, Shahzad Sabir. Anthologized by PP Syed Kashif Rafi, the volume is the first comprehensive chronicle of Rotary’s hundred-year footprint across the nation — a record of compassion, leadership, and fellowship that have defined the movement here since its earliest days.

The launch was graced by Jennifer A. Scott, Director 2025–27, Rotary International, who attended as Chief Guest and lent global stature to a distinctly national milestone.

Produced under the guidance and leadership of District Governor, 2025-26, Shakeel Kaim Khani, the book caps more than a year of research, archival recovery, and storytelling. What began as a single idea grew into a sweeping act of preservation, surfacing accounts of service that had long lived only in memory and personal collections. The title deliberately bridges two milestones: 1927, when the first Rotary club in present-day Pakistan was chartered in Lahore — for nearly a decade the only club on the subcontinent besides Calcutta — and 2027, the true centenary of that founding.

“This is far more than a historical record,” said PP Syed Kashif Rafi, the book’s anthologist. “It is a tribute to every Rotarian who has lived the ideal of Service Above Self, and a promise to the generations who will carry that mission forward. As we traced Rotary’s story in Pakistan, we found more acts of quiet courage and selflessness than any single book could hold. This one belongs to all of them.”

The project drew on the guidance of some of Rotary’s most respected figures. Reflecting on the initiative, PRID Muhammad Faiz Kidwai said:

“A history like this is not written in a year; it is lived across a century and finally given voice by those with the devotion to record it. Kashif and his team have rendered an enduring service to Rotary in Pakistan — one that will outlast us all.”

PDG Muhammad Iqbal Qureshi, who served as Patron of the project, added:

“I believed in this vision from the very first conversation, and I am humbled to have championed it to completion. This book is a gift from our generation of Rotarians to the next — a compass pointing them toward a second century of service.”

The core editorial and research team comprised RPIC Syed Tahzeeb Kazmi, Waqar Ahmed Shaikh, Kishwar Allawala, and Atiqua Vally, alongside the late Colonel Sajid Baseer, whose contributions the team honored at the launch. The book is published by Rotary Humanitarian Trust.

More than a commemorative title, the anthology is intended as a living archive — safeguarding Rotary’s heritage and inspiring future Rotarians to sustain a legacy of measurable community impact.

“Here’s to 100 years of Rotary service in Pakistan,” Rafi added, “and to the next hundred.”

ABOUT SYED KASHIF RAFI A Rotarian since 2007, PP Syed Kashif Rafi brings nearly two decades of service at the highest district levels, including roles as Past District Secretary, Assistant Governor, and Club President. From 2023 to 2025 he served globally as Assistant Rotary Public Image Coordinator for Zone 1B. His Rotary service has been recognized with the District Service Above Self Award, Rotarian of the Year, and Outstanding District Officer honors. Professionally, Rafi is a C-suite executive with more than 20 years of leadership across strategy, brand, marketing, public relations, and institutional and academic administration. He currently serves as Registrar and Director of Sustainability & International Linkages at ILMA University, Managing Director at Rapido, Executive Director of Strategy & Partnerships at Narrativez, and Chief Strategy Officer at Tarbiyat. He is a judge for The Stevie Awards and the QS Reimagine Awards, a mentor with the American Marketing Association Collegiate Program, and an advisor within the HBR Advisory Council and Rotary International leadership ecosystem.

Punjab Launches Electric Bus Service Between Rawalpindi and Murree

The Punjab government has officially launched the Murree-Rawalpindi Electric Bus Service, introducing an environmentally friendly public transport option for commuters and tourists traveling between the two destinations. The new service is designed to provide a safer, more comfortable, and sustainable travel experience while promoting cleaner transportation across the province.

The electric bus service began operations on Thursday, marking another step in Punjab’s efforts to modernize its public transport network. The initiative is expected to benefit daily commuters, tourists, and residents who frequently travel between Rawalpindi and the popular hill station of Murree.

By replacing conventional fuel-powered vehicles with electric buses, the government aims to reduce carbon emissions and improve air quality along one of Punjab’s busiest tourist routes. The project also supports Pakistan’s broader goal of encouraging sustainable and energy-efficient transportation solutions.

Murree attracts thousands of visitors throughout the year, particularly during the summer and winter holiday seasons. The introduction of electric buses is expected to make travel more convenient while helping ease traffic congestion and reducing the environmental impact of increased tourism.

Officials say the buses have been introduced with passenger comfort and safety in mind. Modern features, smoother rides, and lower noise levels are among the key advantages of electric vehicles compared to traditional diesel-powered buses. The service is also expected to offer greater operational efficiency through lower fuel and maintenance costs over time.

The launch reflects the Punjab government’s continued investment in green mobility initiatives. Electric public transport has gained momentum globally as governments seek to lower greenhouse gas emissions, reduce dependence on fossil fuels, and improve urban and intercity transportation systems.

Transportation experts believe that expanding electric bus networks can contribute to cleaner cities while providing affordable and reliable travel options for the public. If successful, the Murree-Rawalpindi route could serve as a model for introducing similar services in other parts of Punjab.

The new electric bus service is expected to enhance the travel experience for visitors heading to Murree while supporting the province’s commitment to modern, sustainable, and environmentally responsible public transportation.

Western Europe Records Hottest June on Record as Heatwaves Intensify

Western Europe experienced its hottest June on record last month, highlighting the growing impact of climate change as prolonged heatwaves swept across the region. According to the European Union’s Copernicus Climate Change Service, average temperatures reached unprecedented levels, breaking the previous June record and raising fresh concerns about extreme weather events.

Data released by the climate monitoring agency showed that Western Europe recorded an average temperature of 20.74°C during June, more than 3°C above the 1991–2020 climate average. The figure surpassed the previous June record, which had been set in 2025, making this the warmest June ever observed in the region.

The record-breaking temperatures were driven by multiple heatwaves that affected several European countries throughout the month. Many areas experienced prolonged periods of extreme heat, leading authorities to issue health advisories, wildfire warnings, and emergency measures to protect vulnerable populations.

Scientists say the increasing frequency and intensity of heatwaves are consistent with long-term global warming trends. Rising greenhouse gas emissions have contributed to higher global temperatures, making extreme weather events more likely and more severe across many parts of the world.

The latest findings from the Copernicus Climate Change Service add to a growing body of evidence showing that Europe is warming faster than many other regions. Higher temperatures not only increase health risks but also place additional pressure on water supplies, agriculture, energy systems, and ecosystems.

Experts warn that prolonged heat can have significant economic and environmental consequences. Reduced crop yields, increased electricity demand for cooling, transportation disruptions, and a higher risk of wildfires are among the challenges associated with recurring heatwaves.

Governments across Europe have been strengthening climate adaptation strategies, including heat action plans, improved emergency response systems, and investments in resilient infrastructure. At the same time, policymakers continue to emphasize the importance of reducing greenhouse gas emissions to limit the long-term effects of climate change.

The record-setting June serves as another reminder of the changing global climate and the need for coordinated action to address rising temperatures. As extreme weather becomes more frequent, scientists stress that both mitigation and adaptation measures will be essential to protect communities, economies, and natural ecosystems in the years ahead.

Pakistan’s Largest Coal Project Set for Major Expansion to Boost Energy Security

Pakistan’s largest coal mining initiative is preparing for another significant milestone as Sindh Engro Coal Mining Company (SECMC) gears up to launch Phase III of the Thar Block II coal project. The planned expansion is expected to strengthen the country’s energy security by increasing the production and use of locally mined coal while reducing reliance on costly imported fuels.

The announcement coincides with the completion of seven years of successful commercial operations at Thar Block II. Developed through a collaboration between the federal government, the Government of Sindh, and local and international partners, the integrated mine-mouth project reached its Commercial Operations Date (COD) on July 10, 2019.

Since then, the project has played an important role in Pakistan’s power generation sector. The Thar Block II mine has steadily increased its annual production capacity to 7.6 million tons, supplying more than 38 million tons of indigenous coal to support electricity generation across the country.

The locally sourced coal has enabled Engro Powergen Thar Limited (EPTL) to generate more than 27,000 gigawatt hours (GWh) of electricity over the past seven years. This contribution has helped diversify Pakistan’s energy mix and lessen the country’s dependence on imported coal and other expensive energy resources.

The upcoming Phase III expansion is expected to further enhance the project’s production capabilities. By utilizing domestic energy resources more efficiently, Pakistan aims to improve long-term energy reliability while lowering the financial burden associated with fuel imports. The expansion also aligns with broader national efforts to improve energy affordability and strengthen power sector sustainability.

The Thar coal reserves are considered among the largest in the world, offering Pakistan an opportunity to meet a significant portion of its future energy requirements through indigenous resources. Continued investment in mining infrastructure and power generation facilities is expected to maximize the economic value of these reserves while supporting industrial growth.

Beyond electricity generation, the project has also contributed to economic development in the Thar region. Large-scale infrastructure development, employment opportunities, and community initiatives have transformed the area over the past several years, creating long-term benefits for local residents alongside the country’s growing energy needs.

Energy experts believe that increasing domestic coal utilization can provide greater stability to Pakistan’s power sector, particularly during periods of volatility in global fuel markets. With imported energy prices remaining unpredictable, expanding local production offers a strategic advantage by improving energy independence and reducing foreign exchange outflows.

As SECMC moves forward with Phase III, the Thar Block II project is expected to remain a cornerstone of Pakistan’s energy strategy. The expansion reflects continued confidence in indigenous resource development and highlights the country’s commitment to building a more secure, reliable, and self-sufficient energy future.

BYD Produces Its 17 Millionth New Energy Vehicle, Setting a Global Industry Milestone

Chinese electric vehicle giant BYD has reached another historic milestone by producing its 17 millionth new energy vehicle (NEV), becoming the first automaker in the world to achieve the landmark. The milestone vehicle, the all-new Seal 08 flagship family sedan, rolled off the production line at the company’s Xi’an manufacturing facility.

The achievement underscores BYD’s rapid growth in the global electric vehicle market and reinforces its position as one of the world’s leading manufacturers of new energy vehicles. Reaching 17 million units also establishes a new production acceleration benchmark for the global NEV industry.

The company has continued to strengthen its leadership despite increasing competition and ongoing consolidation within the international electric vehicle market. BYD attributes its success to continuous investment in research and development, advanced battery technology, a diverse product lineup, and an expanding global presence.

Over the past few years, BYD has significantly expanded its portfolio of electric and plug-in hybrid vehicles, serving customers across multiple market segments. The company has also accelerated its international expansion, entering new markets while increasing production capacity to meet rising global demand.

During the first half of the year, BYD reported cumulative vehicle sales of 1,808,511 units, reflecting sustained demand for its new energy vehicle lineup. The strong sales performance highlights the company’s growing influence in both domestic and international markets.

International business has become an increasingly important growth driver for BYD. The company recorded 789,367 overseas passenger car and pickup sales during the first six months of the year, representing a 68 percent year-on-year increase. The impressive growth demonstrates rising global acceptance of BYD’s electric vehicle technology and expanding market presence.

BYD’s continued investment in innovation has played a central role in its success. The company has introduced advanced battery technologies, intelligent driving systems, and energy-efficient vehicle platforms, allowing it to remain competitive in a rapidly evolving automotive industry.

The production of the Seal 08 as the 17 millionth vehicle also highlights BYD’s strategy of expanding its premium and family-oriented vehicle offerings while maintaining strong performance across multiple price segments.

As governments around the world continue to promote cleaner transportation and lower carbon emissions, demand for electric and hybrid vehicles is expected to remain strong. BYD is well positioned to benefit from this transition through its broad product range, large-scale manufacturing capabilities, and expanding international operations.

The latest milestone further cements BYD’s status as a global leader in the new energy vehicle industry and reflects the accelerating shift toward sustainable mobility worldwide.

KP Sets Aside Rs. 38.68 Billion for 26 Development Projects in Haripur

The Khyber Pakhtunkhwa government has allocated Rs. 38.68 billion for 26 development projects in Haripur district under the Prosperous Khyber Pakhtunkhwa Budget 2026–27, with the aim of improving infrastructure, strengthening public services, and supporting long-term economic growth.

According to official details, the development package covers 11 major sectors, reflecting the provincial government’s focus on balanced regional development and improved public facilities. The planned projects include investments in highways, healthcare, education, clean drinking water, irrigation, urban development, tourism, sports, energy, and other key infrastructure.

The allocation is expected to support both ongoing and new development initiatives across Haripur, helping address infrastructure needs while improving the quality of life for local residents. By investing in multiple sectors simultaneously, the government aims to enhance public service delivery and create opportunities for sustainable economic development.

Road and highway projects form an important part of the development plan, with improved transport infrastructure expected to strengthen regional connectivity, facilitate trade, and reduce travel times. Better road networks can also improve access to educational institutions, healthcare facilities, and commercial centers.

The healthcare sector will receive funding to improve medical infrastructure and public health services, enabling residents to benefit from better healthcare facilities and enhanced access to essential medical treatment.

Education remains another priority under the development package. Planned investments are expected to strengthen educational infrastructure and improve learning environments, contributing to better educational opportunities for students throughout the district.

The budget also includes projects aimed at expanding access to clean drinking water and improving irrigation systems. These initiatives are expected to support public health while benefiting agriculture, which continues to play an important role in the local economy.

Urban development schemes are designed to improve municipal infrastructure and public amenities, while tourism-related projects seek to promote Haripur’s natural attractions and encourage local economic activity. Investments in sports facilities are also intended to provide better recreational opportunities for young people and communities.

The inclusion of energy and other essential infrastructure projects reflects the government’s broader objective of creating a modern and resilient development framework that supports both economic growth and improved living standards.

The Prosperous Khyber Pakhtunkhwa Budget 2026–27 emphasizes district-level development by directing resources toward projects that address local needs while contributing to the province’s overall development agenda. The Rs. 38.68 billion allocation for Haripur highlights the government’s commitment to upgrading infrastructure and expanding access to essential public services across the district.

Govt Reclassifies SMEDA as Energy SOE Accounting Relief Proposal Faces Delay

The federal government has approved a major policy decision by removing the Small and Medium Enterprises Development Authority (SMEDA) from the list of state-owned enterprises (SOEs), while delaying a separate proposal aimed at providing accounting relief to selected energy sector SOEs.

The decisions were taken during a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Finance Minister Senator Muhammad Aurangzeb on Thursday. The meeting focused on governance reforms and financial reporting matters involving public sector organizations.

One of the key outcomes of the meeting was the approval to exclude SMEDA from the official list of state-owned enterprises. The move reflects the government’s ongoing efforts to refine the classification and governance framework of public institutions while ensuring that organizations are regulated according to their operational roles and legal status.

SMEDA has long played an important role in supporting Pakistan’s small and medium-sized enterprises through advisory services, policy recommendations, and business development initiatives. Its removal from the SOE framework is expected to align its institutional status with its development-focused mandate.

Meanwhile, the committee decided not to immediately approve a proposal seeking exemptions for selected energy sector state-owned enterprises from International Financial Reporting Standards (IFRS-14 and IFRS-9). Instead, the matter was deferred for further review.

The Petroleum Division has been directed to conduct additional consultations with the Finance Division and the Law and Justice Division before presenting a revised proposal to the committee. The decision indicates the government’s intention to carefully examine the legal, financial, and regulatory implications before granting any accounting-related exemptions.

International Financial Reporting Standards are designed to improve transparency, consistency, and comparability in financial reporting across organizations. Any exemptions from these standards can have significant implications for financial disclosures, investor confidence, and the overall governance of public sector entities.

By seeking additional consultations, the government appears to be prioritizing a balanced approach that protects financial accountability while addressing the operational realities faced by energy sector organizations.

The latest decisions also reflect the government’s broader agenda to strengthen oversight of state-owned enterprises, improve corporate governance, and ensure greater compliance with international financial reporting practices. These reforms remain an important part of Pakistan’s efforts to enhance transparency, improve fiscal management, and build confidence among investors and development partners.

The CCoSOEs is expected to review the revised accounting proposal once consultations between the relevant ministries and divisions are completed. Until then, the proposed IFRS exemptions for energy sector SOEs will remain under consideration.

Shaun Tait Urges Pakistan to Adopt an Aggressive Brand of Cricket Around Babar Azam

Former Pakistan bowling coach Shaun Tait has called on the national cricket team to move away from a defensive style of play, urging management to build a more aggressive lineup that maximizes the strengths of its star players. The former Australian fast bowler believes Pakistan should focus on creating the right team balance rather than placing unnecessary criticism on Babar Azam.

Speaking in an exclusive interview with PakPassion.net, Tait said Babar remains Pakistan’s finest batter and should be allowed to play to his natural strengths. Instead of expecting him to change his approach, the team should include more attacking players around him who can maintain a higher scoring rate and apply pressure on opponents.

According to Tait, Pakistan has spent too much time debating whether Babar’s batting style is overly cautious. He argued that every successful cricket team is built around the strengths of its best players rather than asking them to abandon the qualities that made them successful.

Tait emphasized that Babar should not be singled out for criticism simply because he prefers building an innings through consistency and technical excellence. He believes the responsibility for an aggressive approach should be shared across the batting lineup, with explosive players complementing Babar’s more measured style.

The former bowling coach suggested that a balanced combination of anchor batters and attacking stroke-makers is essential in modern cricket, particularly in limited-overs formats where teams need to score quickly without sacrificing stability. Allowing players to perform clearly defined roles, he said, can lead to greater consistency and stronger team performances.

Pakistan cricket has frequently faced criticism in recent years over its batting strategy, with fans and analysts questioning the team’s scoring rate in One-Day Internationals and T20 Internationals. While the squad has produced several world-class individual performers, concerns have often centered on adapting to the increasingly aggressive demands of contemporary white-ball cricket.

Tait’s comments reflect a growing view among cricket experts that successful teams combine dependable top-order batters with dynamic finishers capable of accelerating the scoring rate. Rather than relying on one player to fulfill multiple roles, modern teams often distribute responsibilities across the batting order.

Babar Azam continues to be regarded as one of Pakistan’s most accomplished batters, with an impressive record across all formats of international cricket. His technique, consistency, and ability to anchor innings have earned praise from former players and cricket analysts around the world.

Tait believes Pakistan’s future success depends on creating a batting structure that allows experienced players to thrive while giving aggressive batters the freedom to attack from the outset. Such an approach could help the team adapt more effectively to the fast-paced nature of international cricket.

As Pakistan continues preparations for upcoming international competitions, discussions around team selection, batting strategy, and player roles are expected to remain a key focus. Tait’s recommendations add to the ongoing debate about how Pakistan can develop a more balanced and fearless style of cricket while making the best use of its leading performers.

Global Oil Prices Jump 6% After Trump Declares Iran Ceasefire Over

Global oil prices climbed sharply on Wednesday after renewed tensions between the United States and Iran reignited concerns over energy supplies. The market reacted strongly after US President Donald Trump declared the interim ceasefire with Iran “over,” prompting fears of further instability in one of the world’s most important oil-producing regions.

At the time of reporting, Brent crude rose to $78.58 per barrel, while West Texas Intermediate (WTI) advanced to $74.76 per barrel, reflecting a gain of around 6 percent as traders responded to the latest geopolitical developments.

The rally followed overnight military exchanges between the United States and Iran, which heightened concerns about the possibility of a prolonged conflict. Investors quickly priced in the risk of disruptions to global oil supplies, driving crude prices significantly higher.

President Trump announced that the temporary diplomatic arrangement with Iran had come to an end. The interim framework had previously helped ease tensions between the two countries while allowing limited Iranian oil exports to continue under specific conditions.

The United States also revoked the waiver that permitted Iran to sell a restricted volume of oil under the agreement. The decision raised fresh uncertainty over global energy markets, with analysts warning that reduced Iranian exports could tighten global crude supplies if tensions continue to escalate.

Oil markets are highly sensitive to geopolitical events in the Middle East, which accounts for a significant share of global crude production and exports. Any threat to supply routes or production facilities often leads to immediate price increases as traders anticipate potential shortages.

Higher crude oil prices can have far-reaching consequences for economies around the world. Countries that rely heavily on imported petroleum products, including Pakistan, may experience increased import costs, higher fuel prices, and additional inflationary pressure if oil remains elevated for an extended period.

Rising energy prices can also affect transportation, manufacturing, electricity generation, and other sectors that depend heavily on fuel. Businesses may face higher operating expenses, while consumers could see increases in the prices of goods and services due to higher logistics and production costs.

Financial markets also reacted cautiously to the renewed geopolitical uncertainty. Investors typically move toward safer assets during periods of international conflict, while commodity markets, particularly oil, often experience heightened volatility.

Energy analysts believe the direction of oil prices in the coming weeks will largely depend on how the geopolitical situation evolves. Any further military escalation, additional sanctions, or disruptions to oil production and shipping routes could keep prices elevated, while renewed diplomatic efforts may help stabilize markets.

The latest surge highlights the close connection between geopolitical developments and global energy markets. As uncertainty surrounding US-Iran relations continues, governments, businesses, and investors around the world will be closely monitoring developments that could influence oil prices and the broader global economy.

Pakistan Railways to Invest Rs. 3 Billion in New Train Power Systems to Improve Passenger Services

Pakistan Railways has launched a major initiative to modernize its passenger services by planning the procurement of 16 new power plants worth more than Rs. 3 billion. The move is part of a broader strategy to replace aging power units installed in express and passenger trains, ensuring more reliable onboard electricity and an improved travel experience for commuters.

The project reflects the government’s continued focus on upgrading the country’s railway infrastructure. By replacing outdated equipment, Pakistan Railways aims to improve operational efficiency while reducing technical faults that have affected passenger comfort over the years.

Federal Minister for Railways Hanif Abbasi confirmed that the procurement process is already in progress. According to him, bidding, tendering, and the shortlisting of suppliers are currently underway, with the entire procurement expected to be completed by December this year.

The new power plants will replace older systems that have remained in service for many years. These existing units have become increasingly difficult to maintain due to aging components, frequent breakdowns, and rising maintenance costs. Introducing modern power systems is expected to enhance reliability across multiple passenger routes.

Power plants installed in passenger coaches play an essential role in ensuring uninterrupted electricity throughout the journey. They supply power for air conditioning, lighting, charging ports, and other onboard facilities that contribute to passenger comfort. Upgraded systems can significantly reduce power-related disruptions, especially during long-distance travel.

The investment also supports Pakistan Railways’ long-term modernization agenda. In recent years, the department has introduced various initiatives aimed at improving railway infrastructure, enhancing safety standards, and increasing operational efficiency. Modernizing onboard power systems is another important step toward delivering better-quality services.

The procurement process is being carried out through a competitive bidding mechanism. Officials expect that selecting qualified suppliers through transparent tendering will help ensure high-quality equipment and better long-term value for public investment.

Industry observers believe that replacing outdated power plants could also lower maintenance expenses in the future. Newer systems generally offer improved fuel efficiency, greater durability, and easier maintenance compared to older equipment that requires frequent repairs.

Passengers are likely to benefit from more stable electricity during journeys, particularly on express services where uninterrupted air conditioning and lighting are considered essential. Reliable onboard power can also improve the overall perception of railway travel, encouraging more people to choose trains over other transportation options.

Pakistan Railways continues to face growing passenger demand while balancing the need to modernize its aging fleet and supporting infrastructure. Investments such as this demonstrate an effort to address long-standing operational challenges through targeted upgrades.

If completed within the announced timeline, the procurement of the 16 new power plants will represent one of the significant equipment replacement projects undertaken by Pakistan Railways this year. The modernization initiative is expected to strengthen service reliability and contribute to a more comfortable travel experience for passengers across the country.

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