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Revival of SME credit

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Between July and August, things are brought to almost a halt across much of Europe. Italy shuts down for Ferragosto, the French vanish on les grandes vacances, and the German offices empty out. During this window, everything — deadlines, emails, occasional sovereign crisis — can wait. For Pakistani economy nerds, late summer means something completely different, though no less exciting if you are warped enough. It’s because by this time, the data for fiscal year-end starts being released, giving a complete picture of how things panned out. Of all the numbers that land in this season, it is banking that appeals to me the most for a multitude of reasons. For starters, it has had quite an enviable run the past few years and remains highly profitable even as other parts of the economy struggle. Second, its data reporting is relatively richer and granular than most other sectors. Starting with the liabilities side, total deposits reached Rs39.8 trillion by FY2...
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Movement restricted under Section 144 in some areas of South Waziristan, Tank on Monday

SOUTH WAZIRISTAN: The administrations of Lower South Waziristan, Upper South Waziristan and Tank have imposed Section 144 in several areas of the three districts for August 10 (Monday), citing security concerns and directing residents to avoid unnecessary movement during the specified hours. Section 144 of the Code of Criminal Procedure (CrPC) is a legal provision that empowers district administrations to prohibit an assembly of four or more people in an area for a limited period. The deputy commissioners (DCs) of the three districts issued separate notifications on Sunday evening, imposing restrictions on movement between 6am and 7pm, as well as ordering the closure of markets and business centres in the specified areas. The administrations of Upper and Lower South Waziristan have also directed motorists to stop their vehicles at least 50 metres before reaching security personnel and for all passengers to get out of the vehicles. They warned that unauthorised movement or violation...
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SC sets aside orders to restore BISP retailer’s blocked ID

ISLAMABAD: The Supreme Court on Saturday ruled that a complaint filed by a Point-of-Sale (PoS) agent against the Ben­azir Income Support Programme (BISP) over the blocking of his retailer ID was not maintainable under consumer protection laws, as the relationship did not constitute a “consumer service” arrangement. A two-judge SC bench, headed by Justice Muhammad Ali Mazhar, issued the verdict on an appeal filed by BISP Deputy Director Muhammad Ishaq against the Nov 6, 2025 order of the Peshawar High Court, Bannu bench, in a consumer protection appeal. The Supreme Court, however, set aside the judgements of the Consumer Protection Court, Bannu, as well as the PHC, which had earlier directed the BISP and Bank Alfalah to restore the agent’s ID. “We held that [the] complaint under Section 13 of the Khyber Pakhtunkhwa Consumer Protection Act of 1997 was not maintainable,” observed Mazhar in a 14-page order. Rules Point-of-Sale agent cannot invoke consumer law However, in the interes...
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Voting on remaining AJK Poonch division seats may be held by Aug 20-21, says CEC

MUZAFFARABAD: Azad Jammu and Kashmir (AJK) Chief Election Commissioner Justice (retd) Ghulam Mustafa Mughal said on Saturday that the Election Commission had decided, for security reasons, to first complete the electoral process in four constituencies of Bagh and Haveli districts and hinted that polls in the remaining seven constituencies of Poonch division could be held by Aug 20 or 21. Talking to a group of journalists at his office, he said the commission would be in a position to announce the election date for Poonch and Sudhnoti within the next seven days, adding that voters in the two districts would have to be given time to campaign. Poonch division, comprising 11 constituencies — three in Bagh, one in Haveli, five in Poonch and two in Sudhnoti districts — has a total of 1,154,626 registered voters. Monday’s polling, however, will be held in four constituencies in Bagh and Haveli, where 460,371 voters — 238,664 men and 221,707 women — are eligible to cast their ballots at 803...
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KP amends controversial law on lawmakers’ privileges

• Provisions for lifetime blue passport scrapped; number of lifetime arms licences for MPAs reduced to four • Assembly resolves to resist ‘proposed takeover’ of Hazara areas by federal government PESHAWAR: Khyber Pakhtunkhwa (KP) Assembly on Friday withdrew controversial provisions from the recently enacted KP Provincial Assembly (Powers, Immunities and Privileges) Act, 2026 , including the issuance of official passports to lawmakers and their spouses for life. The provincial assembly had earlier in April passed the KP Provincial Assembly (Powers, Imm­unities and Privileges) Act, 2026, granting blue passports to members and their spouses, arms licences, blanket immunity from preventive detention, and making the speaker’s permission mandatory before arresting members on criminal charges. However, the law faced harsh criticism from the media and the general public, prompting KP Chief Minister Sohail Afridi to order a review of the legislation last week. KP Information Minister Shafi ...
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Govt reduces petrol price by Rs2.20, high-speed diesel by Rs1.50

The government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs2.20 and Rs1.50 per litre, respectively. Following the revision, petrol will retail at Rs327.62 per litre while HSD will cost Rs380.86 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on HSD. According to the Petroleum Division’s notification, the new prices will apply from August 8 to 10. The diesel price has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28. The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March. Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US. The government had been announci...
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Terrorist havens

DESPITE the use of both carrots and sticks by the international community, the Afghan Taliban refuse to cut their ties to terrorist groups such as the TTP. This poses a particular problem to Afghanistan’s neighbours, including Pakistan, which has borne the brunt of terrorist violence ever since the Taliban’s return to Kabul in 2021 . Both KP and Balochistan are currently in the grip of violent insurgencies, with the elements responsible for the bloodshed finding safe havens in Afghanistan. Pakistan raised the issue at the UN Security Council on Wednesday, with this country’s permanent representative highlighting the “increasingly permissive environment” for terrorist groups in Afghanistan after the Taliban takeover. He urged the Taliban to fulfil their obligations and ensure Afghan soil is not used against neighbouring states. China’s representative at the same forum echoed these concerns, urging the Taliban to take action, whilst supporting Pakistan’s counterterrorism efforts. The C...
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