Pakistan’s election regulator rules out delaying polls after Senate resolution calling for postponement

A security personnel stands guard at the headquarters of Election Commission of Pakistan in Islamabad on September 21, 2023. (AFP/File)
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Updated 15 January 2024
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Pakistan’s election regulator rules out delaying polls after Senate resolution calling for postponement

  • A non-binding resolution passed by Senate on Friday called for delaying polls due to poor weather, security challenges
  • In letter to Senate, election commission says has made necessary arrangements to hold polls on Feb. 8 across country

ISLAMABAD: Pakistan’s election regulator has categorically told the Senate that “it will not be advisable” for it to postpone polls beyond Feb. 8, days after a resolution in the upper house sought postponing polls in the South Asian country due to poor weather and security challenges. 

The non-binding resolution was passed on Friday in the Senate, calling for polls to be delayed out of fear that elections in the cold month of February would trigger a low voter turnout, especially in the northwestern Khyber Pakhtunkhwa (KP) and southwestern Balochistan provinces. 

The resolution was presented by Dilawar Khan, an independent senator from KP, who also cited recent attacks on politicians in the province as another reason to postpone polls. It was passed when only 14 senators out of 100 were present in the upper house of Pakistan’s parliament, according to media reports. 

In a letter addressed to the joint secretary of the Senate Secretariat on Jan. 13, ECP’s Additional Director General Elections Syed Nadeem Haider mentioned that the ECP had appointed Feb. 8 as the election date after consulting Pakistan’s president. It added that the ECP had also issued directions to the caretaker federal and provincial governments to beef up security arrangements and provide a “congenial environment” to the electorate for peaceful elections on Feb.8.

“ECP has made all necessary arrangements regarding the conduct of General Elections 2024,” the letter stated. It said that the election watchdog had also committed to Pakistan’s Supreme Court that it would hold polls on Feb. 8. 

Responding to Khan’s reservation on polls being held during the extremely cold in KP and Balochistan, the ECP said general elections had been held in the past during the winter season. 

“Sequel to the above narrated facts, it will not be advisable for the Commission to postpone General Elections 2024 at this stage,” the letter concluded. 

Caretaker Information Minister Murtaza Solangi shared a copy of the letter on social media platform X, saying that the ECP is “committed” to hold elections on Feb. 8.

Elections in the politically and economically troubled South Asian nation were originally due to be held in November, 90 days after the dissolution of the lower house of parliament in August, but were first delayed to February due to the fresh demarcation of constituencies under a new census.

Pakistan is currently being run by a caretaker government under interim Prime Minister Anwaar-ul-Haq Kakar that is meant to oversee a general election.

Caretakers are usually limited to overseeing elections, but Kakar’s set-up is the most empowered in Pakistan’s history thanks to legislation that allows it to make policy decisions on economic matters.

Political analysts fear that a prolonged period without an elected government would allow the military, which has ruled Pakistan for over three decades since independence in 1947 and wields considerable control even if not in power, to consolidate control.

Fears of violence spreading ahead of polls were ignited last week when an election candidate, contesting the upcoming polls independently, was shot dead with two others in Pakistan’s northwestern Waziristan district. The same day, a Pakistan Muslim League-Nawaz (PML-N) former minister was critically wounded when gunmen opened fire on his vehicle in the southwestern Turbat district. 

Pakistan’s western provinces bordering Afghanistan have seen a surge in militant violence since November 2022 when a fragile truce between the Pakistani Taliban and the state broke down. 

The Pakistani Taliban have carried out some of the deadliest attacks against security forces and civilians in the country for the last decade-and-a-half. In a bid to impose its brand of strict Islamic law, the Pakistani Taliban have targeted political parties and their candidates, such as the Awami National Party (ANP) and the Pakistan Peoples Party (PPP) who position themselves as secular, progressive forces. 


Pakistani stocks decline by 715 points over profit-taking after two days of gains

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Pakistani stocks decline by 715 points over profit-taking after two days of gains

  • KSE-100 Index closes at 122,046.46 points, witnessing a decline of 0.58 percent, as per stock market data
  • Profit-taking driven by fiscal year-end considerations, short-term portfolio rebalancing, says financial analyst

ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Thursday after two days of gains, losing 715.18 points to close at 122,046.46 points, which a financial analyst attributed to profit-taking driven by fiscal year-end considerations.

The PSX closed at 122,046.46 points when trading ended on Thursday, witnessing a negative change of 0.58 percent. The KSE-100 had closed at 122,761.64 points on Wednesday and before that on Tuesday, it surged by 6,079 points or 5.23 percent to close at 122,246 points. Analysts attributed the surge on Tuesday to the ceasefire announcement between Iran and Israel.

As many as 473 companies transacted their shares in the stock market on Thursday, with 200 of them recording gains and 237 sustaining losses, state-run Associated Press of Pakistan (APP) said, adding that the share price of 36 companies remained unchanged.

“After two consecutive sessions of strong gains, the local bourse witnessed a round of profit-taking today, driven by fiscal year-end considerations and short-term portfolio rebalancing,” Maaz Mulla, the vice president of equity sales at Topline Securities Limited, said in a statement.

Mulla said the benchmark KSE-100 index saw a “volatile ride“— climbing 656 points intraday before losing 715 points at close of business. He said the closing figure of 122,046 points reflected “a cautious investor mood” as the quarter draws to a close.

He said despite the decline at the end of the day, the overall market activity remained “vibrant.”

“Total traded volume clocked in at 750 million shares, with a traded value of PKR 29.8 billion,” Mulla said.

APP reported that the three top trading companies on Thursday were Pak Int. Bulk with 37,503,501 shares traded at Rs 8.52 per share, WorldCall Telecom with 33,285,442 shares at Rs 1.45 per share and Pervez Ahmed Co. with 32,962,174 shares at Rs 3.29 per share.


Pakistan’s National Assembly passes $62 billion budget for next fiscal year

Updated 26 June 2025
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Pakistan’s National Assembly passes $62 billion budget for next fiscal year

  • Budget reflects Pakistan’s attempt to balance security concerns with fiscal reform efforts under $7 billion IMF loan program
  • Government has aimed to reduce fiscal deficit to 3.9% of GDP for next year’s budget, increase defense spending by over 20%

ISLAMABAD: The lower house of Pakistan’s parliament passed the federal budget for the next fiscal year on Thursday, which has a total outlay of Rs17.57 trillion [$62 billion] and projects economic growth at 4.2%, state-run media reported.

The federal government unveiled the federal budget on June 10, which reflects a 7% decrease in overall spending compared to the current fiscal year. The largest portion of the budget – Rs8.21 trillion ($29 billion), or nearly half of total expenditures – will go toward debt servicing, continuing to strain Pakistan’s fiscal space.

Another salient feature of the budget is Pakistan’s move to increase defense spending by more than 20% in the 2025-26 fiscal year to Rs2.55 trillion ($9.04 billion). Islamabad seeks to bolster military capabilities following Pakistan’s worst confrontation with India in nearly three decades in May.

“The National Assembly has passed the federal budget for the next fiscal year, with a total outlay of 17,573 billion rupees, focusing on sustainable and inclusive economic growth,” state broadcaster Radio Pakistan reported.

The House passed the budget with certain amendments, giving effect to the federal government’s proposals for the financial year set to begin from July 1.

The bill was read out in the National Assembly and approved clause by clause before the session was adjourned until 11 am, Friday.

Pakistan remains under a $7 billion IMF loan program approved last year, and the budget reflects an attempt to balance security concerns with ongoing fiscal reform efforts.

The government has aimed to reduce the fiscal deficit to 3.9% of the GDP for the next year’s budget. While it has projected a growth of 4.2% for the upcoming year, Pakistan’s economy grew just 2.6% in 2024/25, falling short of its 3.6% target due to weak agriculture and industrial output. Inflation has been projected for next year’s budget at 7.5%.

The Federal Board of Revenue (FBR), Pakistan’s main tax authority, has been tasked with collecting Rs14.1 trillion of the projected Rs19.3 trillion in gross revenue in the budget, marking a 19% year-on-year increase.

While announcing the budget on June 10, Finance Minister Muhammad Aurangzeb had announced plans to grow IT exports to $25 billion over the next five years and forecast a rise in workers’ remittances to $38 billion by the end of the current fiscal year.


Pakistan issues rain and flood alert for multiple regions from June 26–28

Updated 26 June 2025
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Pakistan issues rain and flood alert for multiple regions from June 26–28

  • Rains lashed Pakistan’s eastern Punjab province over last 24 hours, killing at least four and injuring 19
  • Disaster management authority calls for drain clearance, deployment of emergency services measures

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) on Thursday issued a rain and flood alert for multiple regions in the country from June 26-28, warning local authorities to ensure preemptive measures are in place with the monsoon season expected to trigger heavy downpours in the coming days. 

The Pakistan Meteorological (Met) Department forecast on Monday that several parts of the country are expected to receive heavy monsoon rains from June 25 onwards, urging masses to take precautions against the resulting flash floods and landslides in low lying and hilly areas. Rains have also lashed Pakistan’s eastern Punjab province over the last 24 hours, the provincial disaster management authority said on Thursday, killing at least four people and injuring 19 in rain-related incidents. 

“National Emergencies Operation Center (NEOC) of NDMA has issued impact-based alerts due to expected widespread monsoon rainfall and associated flooding risks across several regions of Pakistan from 26th to 28th June,” the NDMA said in a press release. 

It said heavy rain, windstorms, and thunderstorms are likely in multiple districts of Punjab including Lahore, Rawalpindi, Gujranwala, Sialkot, Narowal, Faisalabad, Sargodha, Mianwali, Bahawalpur, Rahim Yar Khan, Multan and Islamabad cities.

“Urban flooding is particularly expected in Lahore, Gujranwala, Rawalpindi, Multan, Bahawalpur, and Rahim Yar Khan, with possible disruption of transportation, drainage overflow and interruption of essential services,” the statement said. 

The disaster management authority said urban flooding is anticipated in Sindh’s Karachi, Hyderabad, Thatta, Jamshoro, Shahid Benazirabad, and Sujawal cities due to rain and thunderstorm with isolated and heavy falls in the same period.

It said widespread moderate to heavy rainfall may affect Jacobabad, Sukkur, Larkana, Nawabshah, Khairpur, Kashmore, Tharparkar, Mirpurkhas, Umerkot, Sanghar, Tando Allahyar, Tando Muhammad Khan, and Badin in Sindh, posing threats of waterlogging, road blockages, and infrastructure damage.

“In Khyber Pakhtunkhwa, Chitral, Swat, Shangla, Kohistan, Abbottabad, Mansehra, and Battagram may experience moderate to heavy rainfall with possible flash flooding and landslides, particularly in vulnerable mountainous terrain,” the NDMA warned. 

It said in Azad Kashmir, including Muzaffarabad, Neelum Valley, Bagh, Rawalakot, Haveli, and Hattian Bala, the forecast predicts moderate to heavy rainfall with the risk of flash floods, landslides, and riverine overflow. It said the Potohar region is also likely to be affected by similar weather patterns.

“NEOC has advised all provincial and district disaster management authorities to ensure preemptive measures such as drain clearance, public adviseries, deployment of emergency services, and readiness for evacuation or rescue operations where needed,” the disaster management authority said. 

It advised residents in flood-prone areas, particularly near nullahs, low-lying zones and slopes, to remain alert and avoid unnecessary movement. 

The authority called on emergency services to ensure readiness for any potential response operations, urging people to stay updated with real-time alerts and guidance from the official NDMA mobile application. 

The NDMA’s warning comes as Pakistan braces for another season of extreme weather, following deadly heatwaves and catastrophic floods in recent years. Ranked among the ten most climate-vulnerable countries in the world, Pakistan is ramping up preparedness efforts, especially in Punjab, where authorities expect significantly above-average rainfall this monsoon.


Pakistan grouped with Saudi Arabia, Iraq in AFC Futsal Asian Cup 2026 qualifiers

Updated 26 June 2025
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Pakistan grouped with Saudi Arabia, Iraq in AFC Futsal Asian Cup 2026 qualifiers

  • Thirty-one international teams to partake in qualifiers from Sept. 20-24
  • AFC Futsal Asian Cup Indonesia 2026 will be contested in Jan. 27-Feb. 7

ISLAMABAD: Pakistan’s football team has been selected in Group D along with Saudi Arabia, Iraq and Chinese Taipei for the qualifiers of the upcoming AFC Futsal Asian Cup Indonesia 2026, the Pakistan Football Federation (PFF) confirmed on Thursday.

Thirty-one teams have confirmed their participation for the 11th qualifiers, which will take place between September 20 to 24. The draw has divided the teams into eight groups— seven groups of four and one group of three— with each to be played in a centralized league format.

“Our journey to the AFC Futsal Asian Cup Indonesia 2026 begins in Group D, sharing the pitch with hosts Saudi Arabia,” the PFF wrote on social media platform X.

“An exciting draw that sets the stage for some incredible matches. Time to prepare!“

India are in Group A with Kuwait, Australia and Mongolia while top seeds Thailand will have to contend with Korea Republic, Bahrain and Brunei Darussalam in Group B.

Four-time winners Japan are the top seeds in Group C with hosts Tajikistan, Macau and Cambodia their challengers. Group E will see Vietnam, Lebanon, hosts China and Hong Kong face each other while Group F includes Uzbekistan, Kyrgyz Republic (hosts), Timor-Leste and Palestine.

Iran, Malaysia, United Arab Emirates and Bangladesh are part of Group G while Afghanistan, Myanmar and Maldives are part of Group H.

The AFC Futsal Asian Cup Indonesia 2026 will be contested from January 27-February 7.


Pakistan says Roosevelt Hotel’s base valuation complete, will decide on transaction structure this month

Updated 26 June 2025
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Pakistan says Roosevelt Hotel’s base valuation complete, will decide on transaction structure this month

  • Hotel could fetch 4–5 times more under joint venture than in outright sale, privatization chief says
  • Government hopes to finalize deal structure this June, has hired US consulting firm Jones Lang LaSalle

ISLAMABAD: Pakistan has completed the baseline valuation of the Roosevelt Hotel in New York and is preparing to move forward with a transaction structure this month to privatize the state-owned property, the head of the Privatization Commission told Arab News this week.

The Roosevelt, a 1,015-room historic hotel in Midtown Manhattan, has long been one of Pakistan’s most prominent but politically sensitive overseas assets. Acquired by Pakistan International Airlines Investment Limited (PIAIL) in 1979, the hotel occupies a full city block on Madison Avenue and 45th Street. Over the past two decades, successive Pakistani governments have floated plans to sell, lease, or redevelop the property, but no proposal has advanced beyond early-stage planning.

Operations at the Roosevelt were suspended in 2020 following steep financial losses during the COVID-19 pandemic. In 2023, Pakistan entered a short-term lease with the City of New York to use the property as a temporary shelter for asylum seekers, generating more than $220 million in projected rental income. That agreement ended in 2024 and no new revenue stream has since been announced.

“We have an idea of the asset valuation in Roosevelt,” Muhammad Ali, chairman of Pakistan’s Privatization Commission, said in an interview when asked about the timeline to privatize the hotel.

“We have appointed JLL [Jones Lang LaSalle], who are one of the top consultants in the US market. They have done their homework. They have done the market sounding also. We just need to get approval from the Cabinet Committee [on Privatization] on the structure, and we’ll move ahead.”

He added:

“So this year, before June, I’m hoping that on the Roosevelt, we will have gone ahead with execution of the transaction as far as whatever structure is decided.”

VALUATION AND TRANSACTION STRUCTURE

The Roosevelt, whose liabilities and losses the privatization chief did not disclose, is one of several state assets the government hopes will contribute to its target of raising Rs86 billion ($306 million) in privatization proceeds during the fiscal year starting July 1, alongside the sale of national carrier Pakistan International Airlines and three electricity distribution companies.

But how much money the hotel ultimately brings in, and its overall valuation, depended on the type of transaction structure adopted, Ali said.

If the government opted for a straightforward “as-is” sale and sold the property without securing any new permissions or approvals for zoning or development, the hotel would fetch the lowest price.

However, if the government first obtained the necessary permits and approvals that a buyer would typically need for redevelopment, the property’s value could double compared to the “as-is” sale.

Alternatively, if the government formed a joint venture with a private investor, sharing both the risks and future profits, the hotel could be worth four to five times more than its as-is valuation.

“So, depending on what sort of structure you have, how much risk you take, how much effort the government puts in, we can make a lot of money from this asset,” the privatization chief said. 

“If we go with a joint venture structure, then this year we will only get the first advance payment, so that’s a small amount of money which will be coming in [FY26].”