ISLAMABAD – The federal government has announced plans to move Islamabad’s entire electricity transmission system underground.

Federal Interior Minister Mohsin Naqvi visited the Malpur area of Islamabad to review encroachments. The Chairman of the Capital Development Authority (CDA) and the Deputy Commissioner of Islamabad briefed him on the situation.

Naqvi directed the Islamabad administration to remove illegal occupation of government land in Bhara Kahu. He said that just as the person occupying government land is responsible, the relevant CDA official is equally accountable for allowing the encroachment.

The interior minister said that 150 housing societies in Islamabad are illegal, adding that 108 kanals of land in Malpur have been illegally occupied. He noted that people have been occupying government land for 30 years or more.

Naqvi also ordered the recovery of illegally occupied land in Bhara Kahu. He said that three museums, including an Army Museum, would be established on the 108 kanals of government land once it had been reclaimed.

He further announced plans to redevelop the older sectors of Islamabad, including G-6, G-7, G-9 and G-10.

The interior minister said that there would be no electricity poles left standing in Islamabad within the next two years. He added that the government would work with the Islamabad Electric Supply Company (IESCO) to remove electricity poles and shift the power transmission infrastructure underground.

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KARACHI – Mashreq, one of the Middle East and North Africa (MENA) region’s leading financial institutions, has officially launched NEO BIZ in Pakistan, a dedicated digital banking proposition designed to address the evolving needs of small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals, while helping unlock the country’s business potential.

Pakistan is home to approximately 7.14 million micro, small and medium-sized enterprises (MSMEs), contributing nearly 40% to GDP, 30% to exports and employing more than 80% of the non-agricultural workforce. Despite their significant contribution, access to formal financing remains limited. As of December 2025, outstanding SME financing stood at approximately PKR 882 billion. While access to credit has expanded, considerable opportunities remain to strengthen financial inclusion and provide businesses with accessible, digitally enabled financial services.

Positioned at the intersection of economic opportunity and digital transformation, NEO BIZ reflects Mashreq’s broader vision of enabling business growth through innovation and cross-market collaboration. Drawing on Mashreq’s international banking expertise, the proposition aims to simplify financial management for Pakistani businesses while supporting greater participation in the formal digital economy.

Fernando Morillo, Group Head of Retail Banking, Mashreq, added: “Across our international markets, we have seen how digital-first banking models can transform the way businesses operate, improving efficiency, transparency and access to financial services. NEO BIZ builds on this global experience, combining strong commercial capabilities with a scalable platform designed to meet the needs of SMEs. Pakistan represents a high-potential market and NEO BIZ is an important step in extending our global business banking proposition into a rapidly evolving digital economy.”

Designed as a comprehensive solution, NEO BIZ brings together digital business banking, payments, collections and an expanding range of value-added services within an integrated ecosystem. The proposition enables eligible businesses to open and manage accounts digitally, reducing reliance on branch visits and simplifying routine financial transactions. Its broader roadmap encompasses business debit and virtual cards, payroll solutions, invoice-based payments, transaction analytics and bookkeeping capabilities, supporting businesses as their operational and financial needs evolve.

Commenting on the local opportunity, Muhammad Hamayun Sajjad, CEO, Mashreq Bank Pakistan, said: “Pakistan’s SME sector is both dynamic and under-served, with significant gaps in access, awareness and digital capability. With NEO BIZ, we are introducing a platform that is built specifically for the realities of this market, one that simplifies banking, reduces dependency on physical channels and supports businesses as they grow. This launch is a natural extension of our commitment to Pakistan and aligns with our broader vision of enabling financial inclusion and supporting the country’s economic transformation through digital innovation.”

Beyond core banking, NEO BIZ is designed to progressively evolve into a connected business ecosystem through Banking-as-a-Service (BaaS) capabilities and strategic partnerships, with plans to integrate bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing and cash flow-based financing. Through a phased approach, Mashreq aims to simplify operational complexities, enhance business efficiency and deliver solutions that respond to the evolving needs of entrepreneurs at different stages of growth.

Providing further detail on the proposition, Syed Jaffar Abbas Shirazi, Head of NEO BIZ, Mashreq Bank Pakistan, said: “NEO BIZ has been designed with a clear understanding of the challenges SMEs face today, from fragmented financial tools and limited product visibility to barriers in accessing financing. Our approach is to bring everything into a single, integrated platform that allows businesses to manage their financial operations seamlessly. From instant account opening and payments to advanced tools such as analytics, invoicing and bookkeeping, NEO BIZ is built to move beyond traditional banking and become a true business enabler.”

NEO BIZ will be distributed through a combination of digital channels, strategic partnerships and phygital touchpoints, ensuring accessibility across a diverse SME base and enabling Mashreq to scale its reach across Pakistan’s business ecosystem.

With this launch, Mashreq aims to accelerate the adoption of digital financial services among SMEs, strengthen digital payment acceptance, support entrepreneurs and self-employed professionals, and contribute to Pakistan’s transition toward a more inclusive, transparent and digitally connected economy.

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KARACHI – Karachi continued to experience intense heat on Wednesday as northeasterly and northwesterly winds prevailed across the city. Despite low humidity levels, the maximum temperature reached 38.5 degrees Celsius, according to the Pakistan Meteorological Department (PMD).

The Met Office said hot and dry weather conditions persisted in the city, with strong sunshine and weak sea breezes contributing to the heat, particularly during the afternoon. Northeasterly and northwesterly winds blew for most of the day.

According to the department, Karachi’s maximum temperature remained at 38.5°C for the second consecutive day, while the relative humidity level stood at 17 per cent.

Hot and Dry Weather Expected to Continue

The PMD’s Early Warning Centre has forecast that hot and dry conditions will persist in Karachi over the next three days.

Winds are expected to blow from the northeast and northwest, alongside sea breezes. However, the department said the low humidity during daytime hours was unlikely to create heatwave-like conditions.

Temperatures Soar in Rural Sindh

Several districts in rural Sindh also experienced intense heat on Wednesday.

The maximum temperature reached 41°C in Mithi, while Shaheed Benazirabad recorded 40°C, according to the weather report.

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PESHAWAR – An audit report has uncovered alleged corruption and financial irregularities worth billions of rupees in Khyber Pakhtunkhwa’s minerals sector during the Pakistan Tehreek-e-Insaf (PTI) government.

According to the report, the provincial exchequer suffered losses exceeding Rs16.94 billion in a single year during 2022 and 2023.

The report states that more than Rs8 billion was lost through illegal mining, while outstanding dues amounting to Rs4.31 billion remained unrecovered from defaulting contractors.

It further reveals that illegal mining continued across the province despite the presence of checkpoints, inspectors and other relevant staff from the Mines and Minerals Department, resulting in additional losses of Rs3.08 billion. The unauthorised extraction of gravel and sand in the name of constructing highways and small dams was also identified as a source of losses amounting to Rs3.07 billion.

According to the audit findings, excise duty worth Rs547.2 million imposed on minerals was not collected. The report also pointed to the waiver of outstanding dues exceeding Rs810 million relating to coal, bauxite, limestone and soapstone mines.

The audit further revealed that government land belonging to the Mines and Minerals Department in Peshawar was leased at just Rs200 per acre, against the prescribed rate of Rs10,000 per acre. This resulted in an estimated loss of Rs140 million to the public exchequer.

Similarly, the failure to recover outstanding dues related to small dams in Kohat, Nowshera, Swabi, Haripur and other districts caused losses exceeding Rs530 million. The report also identified the non-recovery of Rs63.6 million in royalty payments in Mardan.

The Auditor General has recommended inquiries against those responsible to establish accountability for the financial irregularities and determine the extent of losses inflicted on the provincial exchequer.

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KARACHI – The Sindh government has decided to establish a joint investigation team (JIT) in the Mir Raza case in light of the recommendations made by a judicial commission. The notification for the formation of the team is expected to be issued within 24 hours.

Sindh Chief Minister Syed Murad Ali Shah held a meeting with members of the cabinet’s subcommittee formed to review the case.

The subcommittee comprises provincial ministers Syed Nasir Hussain Shah, Zia-ul-Hassan Lanjar and Saeed Ghani, along with Sindh Advocate General Jawad Dero.

During the meeting, the committee members briefed the chief minister on their detailed review of the judicial commission’s recommendations, including progress made during the first review meeting on the report.

The briefing revealed that preliminary recommendations had been formulated during the review meeting and subsequently presented to the chief minister for consideration.

In addition to establishing a JIT, the provincial government has decided to constitute a separate inquiry team to identify negligence and lapses by the teams that initially investigated the case.

Chief Minister Murad Ali Shah directed the committee to ensure the full implementation of all its recommendations. He reiterated that the provincial government would act on the recommendations put forward by the judicial commission.

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ISLAMABAD – The government has increased profit rates on several national savings schemes, including those designed for pensioners, senior citizens and families of martyrs. The revised rates came into effect on October 21.

According to the updated schedule issued by the Central Directorate of National Savings (CDNS), the profit rate on Behbood Savings Certificates, Pensioners’ Benefit Accounts and Shuhada Family Welfare Accounts has been raised to 12.96 per cent from 12.72 per cent.

Following the revision, investors with Rs100,000 deposited in these schemes will receive a monthly profit of Rs1,080, up from the previous Rs1,060.

The profit rate on Regular Income Certificates has also been increased from 11.76 per cent to 12.12 per cent. The revised rate will raise the monthly return on an investment of Rs100,000 to Rs1,010 from Rs980.

Meanwhile, the return on Special Savings Certificates has been revised upwards to 12 per cent from 11.6 per cent for the first five profit payments. Investors holding certificates worth Rs100,000 will receive Rs6,000 every six months. The sixth and final payment will amount to Rs6,400, calculated at a rate of 12.8 per cent.

Returns on Defence Savings Certificates Increased

The government has also raised cumulative returns on Defence Savings Certificates across various investment periods.

Under the revised schedule, the cumulative return on six-year certificates has increased to 88 per cent from 86 per cent, while the return on seven-year certificates has risen to 113 per cent from 109 per cent.

For eight-year certificates, the cumulative return has been raised to 142 per cent from 136 per cent. The return on nine-year certificates has increased to 176 per cent from 168 per cent, while the 10-year return has climbed to 215 per cent from 205 per cent.

Short-Term and Islamic Savings Schemes

Profit rates on Short Term Savings Certificates have also been revised. The rate for three-month certificates has increased from 10.80 per cent to 11.12 per cent, while rates for longer investment periods have been raised to as high as 11.72 per cent.

The revised schedule also includes higher returns on Sharia-compliant savings products. Profit rates on Sarwa Islamic Term Accounts now range between 11.84 per cent and 12.12 per cent, depending on the investment period.

The rate on Sarwa Islamic Savings Accounts has also been increased to 11.84 per cent from 11.33 per cent.

However, the annual profit rate on ordinary Savings Accounts remains unchanged at 10 per cent.

Tax and Zakat Deductions

According to the official schedule, profits earned through national savings schemes are subject to withholding tax at 15 per cent for tax filers and 30 per cent for non-filers.

Zakat deductions will also apply where required under the relevant rules.

The revised rates are expected to increase returns for investors in several government-backed savings products, particularly pensioners and other beneficiaries who rely on regular income from their investments.

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LAHORE – Pakistanis are being forced to pay exorbitant prices for liquefied petroleum gas (LPG), with consumers allegedly paying more than Rs1.4 billion above the government-notified rate in just five days, despite the presence of the Oil and Gas Regulatory Authority (OGRA) and other regulatory bodies.

According to Irfan Khokhar, chairman of the LPG Distributors Association, Pakistan’s daily LPG consumption has risen from between 60,000 and 65,000 kilogrammes to around 70,000 kilogrammes due to changing weather conditions.

He said OGRA had fixed the LPG price at Rs280 per kilogramme, but the commodity was being sold at rates ranging from Rs600 to more than Rs625 per kilogramme.

As a result, consumers are paying approximately Rs320 extra per kilogramme. Based on the prevailing consumption levels and price difference, the public has paid more than Rs1.4 billion in excess charges over the past five days, Khokhar said, alleging that the additional money had gone into the pockets of the LPG mafia.

Questions Raised Over OGRA’s Enforcement

Despite the reported overcharging, LPG sellers have allegedly continued to set prices at their discretion for five consecutive days, while OGRA has yet to take action against any LPG plant operators, according to the report.

Sources within OGRA said meetings had been held over the past two days to determine which authority was responsible for taking action against those violating the notified prices.

The sources said OGRA was authorised to act against LPG marketing companies and plant operators. However, no action had reportedly been taken against any plant so far.

Meanwhile, the Punjab Enforcement and Regulatory Authority (PERA) has taken action against more than 10 shopkeepers in Lahore and other parts of Punjab.

Shopkeepers have questioned why they are being penalised when they themselves are purchasing LPG at inflated rates.

“We are being supplied LPG by the mafia at Rs550 per kilogramme. How can we sell it for Rs280?” some traders said, adding that enforcement teams were confiscating their gas-filling equipment and imposing additional fines.

The traders said they were facing mounting difficulties and might be forced to shut down their businesses if the situation continued.

Importers Blame Border Closure and Transportation Costs

Sheikh Mukarram, president of the LPG Importers Association, attributed the price surge to the closure of the Taftan border, which he said had disrupted supplies and created a shortage in the market.

He also criticised OGRA’s pricing notification, arguing that the transportation charges used in the calculation were outdated and based on rates from 2010.

According to Mukarram, transporting an LPG tanker costs between Rs50,000 and Rs60,000, but OGRA has failed to revise the relevant transportation rates.

He said the association had repeatedly raised the issue with OGRA’s chairman and other senior officials, but no satisfactory response had been received.

Mukarram warned that businesses could face serious difficulties if the issue remained unresolved, adding that shutting down operations could push the situation further out of control.

Industry Calls for Government Intervention

Khokhar said approximately 70 per cent of Pakistan’s LPG requirements were met through imports, while the remaining 30 per cent came from domestic production.

He urged the government to intervene immediately and take control of the situation to ensure that LPG was available to consumers at affordable prices.

The industry representatives called for effective price enforcement, a review of transportation costs and measures to address supply shortages to protect consumers from further price increases.

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ISLAMABAD – Federal Interior Minister Mohsin Naqvi, accompanied by Minister of State for Interior Talal Chaudhry, visited the residence of Laiba and met her father, Rana Ejaz.

During the visit, Naqvi handed over money recovered from the alleged fraudster to Laiba’s father. The Inspector General (IG) of Islamabad Police was also present.

According to sources, the interior minister returned more than Rs5 million to Rana Ejaz and assured him that efforts would continue to recover the remaining amount allegedly taken from Laiba.

Meanwhile, Islamabad Inspector General of Police Sohail Chaudhry also visited the family of Laiba Ejaz, a gold-medal-winning student whose death by suicide has drawn attention to the alleged fraud case. The IG offered his condolences to the bereaved family.

Laiba’s Father Thanks Interior Minister, Public for Support

Speaking to the media after the meeting, Rana Ejaz thanked the interior minister and others who had supported his family.

He said he would never forget the tragedy that had befallen them, but the support shown by the Pakistani public had brought him some comfort.

Ejaz said his daughter had aspired to travel abroad and wanted to serve the country. He added that Islamabad Police had consistently provided the family with encouragement and support.

He further said the family had been informed that additional cases against the suspect had emerged. According to Ejaz, the suspect had also taken money from girls in Mansehra.

Laiba’s father confirmed that the money belonging to him had been returned.

Suspect Allegedly Defrauded 21 Others

The deceased suspect, identified as Nauman, allegedly defrauded 21 people in addition to Laiba, sources said.

During the investigation, police reportedly recovered 21 fake appointment letters from the suspect. The documents had allegedly been issued to different individuals under the pretext of securing jobs in the Ministry of Defence.

According to sources, Nauman collected money from the individuals in exchange for the fraudulent appointment letters. He allegedly provided similar fake documents to four of his cousins as well.

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BAHAWALPUR – A man accused of running over and killing a 14-year-old boy in Multan was killed during an alleged encounter with the Crime Control Department (CCD) in Bahawalpur early Wednesday, according to police.

The suspect, identified as Tauqeer, had reportedly escaped from police custody while on physical remand, a CCD spokesperson said.

On Tuesday, a judicial magistrate in Multan had ordered that Tauqeer remain in police custody for three days to assist with the investigation. Police had initially sought a 14-day remand. The suspect was arrested on Monday and appeared before Judicial Magistrate Saadia Aslam the following day.

The case relates to the death of a teenage boy who allegedly worked for the suspect and was learning electrical work. He was reportedly struck by a car in a private housing society in Multan.

According to the CCD spokesperson, department personnel tried to stop two men travelling on a motorcycle along Bahawalpur’s Northern Bypass. An exchange of gunfire followed, resulting in Tauqeer’s death, the spokesperson said.

Meanwhile, Multan City Police Officer (CPO) Akhtar Farooq said on Tuesday that police teams were conducting raids to apprehend the second suspect allegedly involved in the case.

Expressing grief over the incident, Farooq said the community was deeply distressed by the boy’s death. He also described the treatment allegedly inflicted on the orphaned child as an act of extreme cruelty.

Closed-circuit television (CCTV) footage of the incident appears to show the boy running along a road after noticing a car. The vehicle swerves towards him and follows him before striking him. After being hit, the boy falls and crashes into the gate of a nearby house, suffering fatal injuries.

A police case was registered on behalf of the state at the Defence Housing Authority (DHA) police station in Multan.

The first information report (FIR) names two suspects and includes charges under Sections 302 and 34 of the Pakistan Penal Code, relating to intentional murder and acts carried out by multiple individuals with a shared intention, respectively.

According to the FIR, the teenager was employed by the suspects and was receiving training to become an electrician. His cousin told police that the boy had allegedly been subjected to violence and threats by the men.

The FIR further states that the teenager was attempting to flee when the suspects allegedly pursued him in a car and struck him. Police subsequently arrested one suspect, while the other managed to escape. The vehicle allegedly used in the incident was also taken into police custody, according to the report.

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ISLAMABAD – Pakistan, Türkiye, Qatar and Indonesia have signed an agreement to strengthen cooperation in the defence industry.

According to the Turkish Ministry of National Defence, the Badr Memorandum of Understanding (MoU) was signed during Turkish National Defence Minister Yaşar Güler’s visit to Qatar. The agreement aims to promote defence and security cooperation among the four countries.

Millî Savunma Bakanı Yaşar Güler’in Katar ziyareti sırasında Türkiye, Katar, Pakistan ve Endonezya arasında Bedir Mutabakat Zaptı imzalandı.

Mutabakat Zaptı’nı Millî Savunma Bakanı Yaşar Güler, Katar Başbakan Yardımcısı ve Savunma İşlerinden Sorumlu Devlet Bakanı Şeyh Saud bin Abdulrahman bin Hasan Al Sani, Endonezya Savunma Bakanı Yardımcısı Yusuf Jauharı ve Pakistan Savunma Bakanı Khawaja Muhammed Asıf tarafından imzalandı.

İmza töreninde Savunma Sanayii Başkanı Haluk Görgün de yer aldı.

#MillîSavunmaBakanlığı
#YaşarGüler

— T.C. Millî Savunma Bakanlığı (@tcsavunma) October 21, 2026

The MoU was signed by Pakistan’s Defence Minister Khawaja Asif, Türkiye’s National Defence Minister Yaşar Güler, Qatar’s Deputy Prime Minister and Minister of State for Defence Affairs Sheikh Saud bin Abdulrahman bin Hassan Al Thani, and Indonesia’s Deputy Defence Minister Yusuf Juhari.

According to Türkiye’s Defence Industry Agency, the new memorandum will help advance ongoing defence projects among the four countries.

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