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Rethinking trade policy

THE preparation of the Strategic Trade Policy (STP) for 2026-31 is an opportunity not merely to set fresh export targets but also rethink our export strategy in the light of lessons of the past decade. Any new policy’s credibility depends on fixing structural weaknesses that have repeatedly undermined implementation. First, policies alone don’t produce results. Pakistan has prepared numerous strategies over the past three decade, but most have fallen short because governance has been weak and institutions ineffective. Good governance is the foundation on which sound economic policies rest. It improves resource allocation, boosts competitiveness, raises productivity, reduces transaction costs and enables efficient functioning of markets. Unless accompanied by governance reforms, the new STP is unlikely to deliver outcomes different from its predecessors. The new policy should begin with an honest assessment of the previous two STPs. STP 2015-20 envisage...
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Chenab water level likely to surge following ongoing rains in Indian-occupied Kashmir, Punjab

LAHORE: The water level in the Chenab River is likely to surge significantly over the next couple of days following ongoing rains in catchment areas of Indian-occupied Kashmir and fresh spells of heavy rain in parts of Punjab. “At the moment, the Chenab River is flowing in medium flood. Its flow may surge and enter the high-flood category following forecasts of heavy rain over the next three to four days in both held Kashmir and Punjab,” a senior official of the Punjab Irrigation Department told Dawn on Monday. “The situation may turn critical if there are heavy rains, as predicted, in the catchment areas of held Kashmir and Punjab,” he added. Meanwhile, the Pakistan Meteorological Department’s Flood Forecasting Division (FFD) issued a forecast of high flood levels in major rivers, including the Chenab, and nullahs due to heavy rains expected until July 24. According to the FFD’s Monday flood bulletin, the flows of all major rivers were likely to increase significantly by July 24 d...
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From Red Fury to a symphony in red: How Spain made themselves perennial World Cup favourites

There was a time when Spain’s football was defined by fury. Today, it is defined by control. The old La Furia Roja (The Red Fury) was built on passion, aggression and flashes of individual brilliance. The Spain of today is something more complete: technically immaculate, tactically sophisticated and capable of turning possession into sudden, devastating attacks. As Spain prepare to face Argentina in the FIFA World Cup final at MetLife Stadium tonight, they do so unbeaten in 37 matches and as reigning European champions. Their remarkable resurgence is not the product of one golden generation or one exceptional manager — it is the result of a footballing system developed over decades, refined through success and failure, and constantly adapted to the demands of the modern game. For much of its history, Spain failed to translate the strength of its domestic football into international success. The 1964 European Championship remained its only major title for decades. The transformatio...
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How Spain made Argentina look ordinary

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The scoreline said Spain had beaten Argentina 1-0 after extra time. The match said something far more emphatic. For much of the World Cup final in New Jersey, Spain did not merely outplay the defending champions. They controlled the game so completely that Argentina, despite the presence of Lionel Messi in what was expected to be his final World Cup match, were reduced to chasing shadows. The victory gave Spain their second World Cup title, but it was the manner of the triumph that made it particularly significant. Against a team that had built its tournament on resilience, late comebacks and the individual brilliance of Messi, Spain offered something altogether different: control without panic, possession without sterility and pressure without recklessness. Spain’s Lamine Yamal takes a free kick during the 2026 FIFA World Cup final between Spain and Argentina at the New York/New Jersey Stadium, East Rutherford, New Jersey, the US on July 19, 2026. — Reuters ...
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Pakistan-China pharma conference ends with $850m agreements

• Health minister says 16 contracts, 80 MoUs finalised • Agreements include 18 deals related to herbal medicines ISLAMABAD: Pakistan’s agreements with Chin­ese companies reached $850 million on the concluding day of the two-day Pakistan-China Pharmaceutical and Healthcare B2B Investment Conference . During a media briefing on the second day of the event, Federal Health Minister Mustafa Kamal said on Saturday said 16 contracts and 80 memoranda of understanding had been finalised. He termed it a key economic milestone for cooperation between the two countries in the pharmaceutical sector. He said an environment had been created for local production of health equipment and investment in the country. Sharing details, Mr Kamal said contracts worth $600m and MoUs worth $250m had been signed. He said these included 18 agreements related to herbal medicines. He acknowledged growing business-to-business ties between Pakistani and Chinese firms and welcomed investment from Chinese companies...
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Policemen martyred in Ziarat attack buried as Quetta sit-in ends

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Mourners shower rose petals on a vehicle carrying coffins of the martyred police personnel.—AFP • Thousands attend funeral prayers offered at Quetta’s Ayub Stadium amid strict security arrangements • Koila Phatak, police stations, educational institutions renamed after martyrs • Bugti reaffirms commitment to ensuring timely implementation of accord QUETTA: The pol­icemen who were martyred in the Ziarat terrorist attack were buried in their native towns on Saturday after their funeral prayers were offered at Ayub Stadium, Quetta, attended by thousands of people following the culmination of a 10-day-long sit-in by their relatives. The sit-in committee agreed to call off the protest after a Friday-night agreement with the provincial government, in which all of their demands, including the call for a judicial probe, were accepted. Besides other measures, the government also agreed to constitute a judicial commission to probe the attacks in Ziarat and Hanna ...
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England edge France 6-4 in chaotic World Cup bronze match

England beat France 6-4 in a chaotic World Cup third-place playoff on Saturday as Kylian Mbappe became the all-time leading scorer in World Cup history. Both teams had higher aspirations at the 2026 tournament but suffered painful semi-final exits — France were outplayed by Spain while England suffered a late collapse against Argentina. Both coaches made multiple changes for the match in the oppressive heat of Miami, with a host of stars on the bench at the start. England boss Thomas Tuchel left out Harry Kane and Jude Bellingham from his starting line-up while Deschamps, stepping down after 14 years at the helm, omitted Bradley Barcola and Ousmane Dembele. Arsenal midfielder Declan Rice put England ahead with a goal from distance in the third minute and Ezri Konsa headed home to make it 2-0. Kylian Mbappe and Michael Olise were a threat as France searched for a way back into the game but they found England’s second-choice goalkeeper Dean Henderson in top form. The game threatene...
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