ISLAMABAD: The United Nations Security Council on Tuesday unanimously adopted a resolution calling on member states to use peaceful means, including negotiation, mediation and judicial settlement, to resolve disputes, as Pakistan accused India of undermining a landmark water-sharing agreement.

Signed in 1960 with World Bank mediation, the Indus Waters Treaty governs the distribution of the Indus River and its tributaries between India and Pakistan, two nuclear-armed neighbors with a history of conflict. Despite strained bilateral relations over the decades, the treaty has been regarded as one of the most resilient diplomatic frameworks in South Asia.

Speaking at the UNSC’s open debate, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said the 65-year-old Indus Waters Treaty remained a “noteworthy example of dialog and diplomacy working for peacefully arriving at a water-sharing arrangement between two neighbors.”

“The treaty has withstood periods of trials and tribulations in bilateral relations,” Dar said.

“It is most unfortunate and regrettable that India has chosen to illegally and unilaterally hold this treaty in abeyance on baseless grounds with the intention of withholding the flow of water to 240 million people of Pakistan, who rely on it for their livelihood and survival.”

Dar’s remarks came as the Security Council adopted a resolution reaffirming the importance of peaceful dispute resolution mechanisms, with all 15 of the Council’s members voting in favor.

The resolution encourages states to make full use of existing mechanisms such as “negotiation, mediation, arbitration, judicial settlement or other peaceful means,” in accordance with the UN Charter.

India decided to hold the IWT treaty “in abeyance” after a militant attack in Indian-administered Kashmir killed 26 people in April. New Delhi blamed Pakistan for being behind the attack and announced a slew of punitive measures, including suspending the water sharing pact. 

Pakistan denies involvement in the assault and has called for an independent international investigation.

The IWT ensures water supply for 80 percent of Pakistani farms. Pakistan has previously warned that the treaty contains no provision for unilateral withdrawal and any attempt to block or stop river water flowing into the country would be considered “an act of war.”

In May, weeks after the April attack, the most intense India–Pakistan military confrontation in decades ensued, involving a series of drone, artillery and missile strikes before a ceasefire was brokered by the US on May 10.

KARACHI: Pak-Qatar Asset Management Company (PQAMC) said on Tuesday its assets under management (AUM) rose by 117% in the financial year ending June 30, citing growing demand for Shariah-compliant investment products in Pakistan.

The company is part of the Pak-Qatar Group, a joint venture backed by Qatari and Pakistani investors focused on the development and promotion of Islamic finance. It said the surge in AUM, which refers to the total market value of client investments it oversees, was driven by consistent fund performance, increasing investor confidence and a broader client base across both retail and institutional segments.

The growth reinforces the company’s position among the fastest-expanding Islamic asset managers in the country.

“We are humbled by the trust placed in us by our investors, which has enabled us to achieve this tremendous growth,” its chief executive officer, Farhan Shaukat, said in a statement. “This success is a testament to our unwavering focus on delivering sustainable and Shariah-compliant investment avenues that meet the evolving financial aspirations of our clients.”

Following its recent performance, the company said it aims to further strengthen its position by offering innovative Islamic investment solutions tailored to a range of financial goals. It maintained its strategy remains anchored in ethical wealth creation, sound governance and disciplined portfolio management in accordance with Islamic principles.

The company has expanded its reach in recent years by diversifying its product offerings and investing in client education around Islamic financial planning. It now manages a growing suite of funds catering to both conservative and growth-oriented investors seeking faith-based alternatives in a volatile economic environment.

The company’s performance comes amid increasing interest in Islamic finance across Pakistan’s investment landscape, with regulatory support and shifting investor preferences driving demand for Shariah-aligned mutual funds and retirement products.

The company said it would continue to build on its momentum by enhancing digital accessibility, improving client engagement and launching new funds in response to market trends and participant needs.