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​​​​​​​Pakistan launches Paris-Aligned Finance Fellowship to boost climate-smart banking

​​​​​​​Pakistan launches Paris-Aligned Finance Fellowship to boost climate-smart banking
A foreign currency dealer counts US dollar notes at a currency market in Karachi on July 19, 2022. (AFP/ file)
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​​​​​​​Pakistan launches Paris-Aligned Finance Fellowship to boost climate-smart banking

​​​​​​​Pakistan launches Paris-Aligned Finance Fellowship to boost climate-smart banking
  • ​​​​​​​The program brings together industry professionals who will undergo specialized training in sustainable finance
  • ​​​​​​​The fellowship positions Pakistan’s financial sector to support businesses in adapting to changing market needs

ISLAMABAD: Pakistan has launched a groundbreaking initiative to align its financial sector with global climate goals through the Paris-Aligned Finance Fellowship that is set to begin in mid-October, the country’s central bank said on Thursday.

The program, financed by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ Pakistan in collaboration with the State Bank of Pakistan (SBP), aims to build the capacity of financial institutions to manage climate risks and unlock green investment.

As global trade and investment increasingly demand low-carbon and sustainable practices, the fellowship positions Pakistan’s financial sector to support businesses in adapting to changing market requirements. By embedding climate and sustainability principles into financial strategies, the initiative is expected to promote economic resilience and competitiveness.

A key outcome of the fellowship will be the creation of a community of practice among financial institutions to collaborate on advancing climate finance in Pakistan. Organizers hope the program will catalyze long-term changes in banking and investment practices, supporting projects that enhance climate resilience, foster green exports, and contribute to sustainable growth.

“Strengthening the financial sector’s ability to respond to climate challenges is central to ensuring sustainable growth,” Maraj Mahmood, managing director of the SBP’s Banking Services Corporation, was quoted as saying by the central bank.

“The State Bank of Pakistan is pleased to support this important initiative.”

Pakistan, which ranks among nations most vulnerable to climate change, has seen erratic changes in its weather patterns which have led to frequent heat waves, untimely rains, storms, cyclones, floods and droughts in recent years. As monsoon floods killed 1,037 and caused initial losses worth $1.31 billion, experts have warned that without urgent adaptation and mitigation measures, the human and economic toll of climate change will only deepen in the years ahead.

The fellowship brings together 50 senior professionals from the central bank, commercial banks, development finance institutions, and regulatory bodies, who will undergo specialized training in sustainable finance, focusing on climate risk management, transition finance, sustainability reporting and green lending practices, according to the SBP.

The program kicks off with a Foundation Track in Karachi on October 13–17, followed by an Expert Track in Germany, providing fellows with international exposure and advanced tools to integrate climate considerations into financial decision-making.

“This fellowship will enable Pakistan’s banks to unlock new opportunities for climate-smart investment while managing risks more effectively,” Maria-Jose Poddey, the GIZ Pakistan country director, was quoted as saying by the SBP.

“It is about preparing the sector for the future of global finance.”


South Africa lose fast bowler Maphaka for Pakistan white ball tour

South Africa lose fast bowler Maphaka for Pakistan white ball tour
Updated 09 October 2025

South Africa lose fast bowler Maphaka for Pakistan white ball tour

South Africa lose fast bowler Maphaka for Pakistan white ball tour
  • The 19-year-old has been replaced by Ottneil Baartman to face Namibia, Pakistan in T20s
  • Lizaad Williams is his replacement for One Day International matches on the subcontinent

Teenage left-arm fast bowler Kwena Maphaka has been ruled out of South Africa’s one-off Twenty20 international against Namibia in Windhoek on Saturday and their entire white ball tour to Pakistan after being sidelined with a hamstring strain.

The 19-year-old has been replaced in the squad to face Namibia and the T20 series against Pakistan by seamer Ottneil Baartman. Lizaad Williams is his replacement for the One Day Internationals on the subcontinent.

Maphaka was injured in a domestic four-day fixture last week and subsequent medical assessments indicated a Grade 1-2 injury which will require rehabilitation over the next four weeks.

South Africa play three T20s in Pakistan between October 28-November 1, and three ODIs from November 4-8.


Officer’s death lifts Pakistan military toll to 12 in two days of anti-militant operations

Officer’s death lifts Pakistan military toll to 12 in two days of anti-militant operations
Updated 09 October 2025

Officer’s death lifts Pakistan military toll to 12 in two days of anti-militant operations

Officer’s death lifts Pakistan military toll to 12 in two days of anti-militant operations
  • Seven militants were also killed in the gunfight in Daraban area of the northwestern Dera Ismail Khan district
  • Pakistan blames the surge in militancy on India and Afghanistan-based militants, New Delhi and Kabul deny this

ISLAMABAD: The death of a Pakistan army major in northwest Pakistan has brought the military’s toll to 12 in two days of back-to-back operations against militants, the army said on Thursday.

In the latest incident, an army major was killed in a gunfight in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, according to the Inter-Services Public Relations (ISPR), the military’s media wing.

The skirmish, which occurred during an intelligence-based operation in Dera Ismail Khan district, killed seven Pakistani Taliban militants who had been involved in attacks against security forces and civilians.

“Weapons and ammunition were also recovered from the killed khwarij (Pakistani Taliban militants),” the ISPR said, adding that a sanitization operation was being conducted in the vicinity.

The development comes a day after 11 security personnel, including a lieutenant colonel and a major, and 19 militants were killed in an overnight gunbattle in KP’s Orakzai district, according to the ISPR.

The Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), and other militant groups have frequently targeted security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.

Pakistan’s northwestern tribal regions turned into militant hotspots after the US invasion of Afghanistan in the wake of the September 11, 2001 attacks. Islamabad launched multiple military operations over the last two decades to push away militants but they have managed to regroup and the threat has persisted in the rugged, mountainous region.

Pakistan has frequently accused Afghanistan of allowing the use of its soil and India of backing militant groups for attacks against Pakistan. Kabul and New Delhi both deny the allegation.


Ƶ leads Pakistan September remittances as inflows rise to $3.2 billion

Ƶ leads Pakistan September remittances as inflows rise to $3.2 billion
Updated 09 October 2025

Ƶ leads Pakistan September remittances as inflows rise to $3.2 billion

Ƶ leads Pakistan September remittances as inflows rise to $3.2 billion
  • The inflows surged 11.3 percent year on year in Sept., reaching $9.5 billion in the first quarter of this fiscal year
  • Pakistan received a record $38.3 billion in remittances in last fiscal year, reporting an increase of about $8 billion

ISLAMABAD: Pakistan recorded worker remittances inflows of $3.2 billion in the month of September, the country’s central bank said on Thursday, with Ƶ being the leading source with $750 million.

Remittances are a key pillar of Pakistan’s external finances, providing hard currency that supports household consumption, helps narrow the current-account gap and bolsters foreign exchange reserves. The steady pipeline from Gulf economies, led by Ƶ and the UAE, has remained crucial for Pakistan’s balance of payments.

Remittance inflows in September increased by 11.3 percent on a year-on-year basis, according to the State Bank of Pakistan (SBP).

“Remittances inflows during September 2025 were mainly sourced from Ƶ ($750.9 million), United Arab Emirates ($677.1 million), United Kingdom ($454.8 million) and United States of America ($269.0 million),” the SBP said in a statement.

Cumulatively, workers’ remittances increased by 8.4 percent to $9.5 billion during the first quarter of this fiscal year, compared to $8.8 billion received during the same period last year.

Pakistan received a record $38.3 billion in workers’ remittances during the last fiscal year, reporting an increase of about $8 billion over a 12-month period — exceeding the country’s ongoing $7 billion International Monetary Fund (IMF) loan program.

According to the SBP, Ƶ led all contributors during FY25, with remittances totaling $9.34 billion, followed by the United Arab Emirates at $7.83 billion, the United Kingdom at $5.99 billion and the United States at $3.72 billion.

Remittances from Gulf Cooperation Council (GCC) countries excluding Ƶ and the UAE totaled $3.71 billion, while EU countries contributed $3.53 billion.

These inflows help stabilize Pakistan’s economy and give policymakers breathing room during periods of tight external financing conditions.


Pakistan calls Israel-Hamas truce agreement ‘historic,’ lauds Trump and regional leaders for role

Pakistan calls Israel-Hamas truce agreement ‘historic,’ lauds Trump and regional leaders for role
Updated 09 October 2025

Pakistan calls Israel-Hamas truce agreement ‘historic,’ lauds Trump and regional leaders for role

Pakistan calls Israel-Hamas truce agreement ‘historic,’ lauds Trump and regional leaders for role
  • Indirect talks in Egypt yielded an agreement on the initial stage of Trump’s 20-point framework to bring peace to Gaza
  • Yet there are many unresolved questions that could still lead to the collapse of the agreement, as has happened earlier

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Thursday said Israel and Hamas’ agreement on the first phase of US President Donald Trump’s truce plan is a “historic opportunity” to secure lasting peace in the Middle East, praising the leaders of the US and other regional states for their role in the agreement.

Indirect talks in Egypt yielded an agreement on the initial stage of Trump’s 20-point framework to bring peace to the Palestinian enclave, just a day after the second anniversary of Israel’s war on Gaza that has killed more than 67,000 Palestinians.

The accord, if fully implemented, would bring the two sides closer than any previous effort to halt a war that had evolved into a regional conflict, drawing in countries such as Iran, Yemen and Lebanon, deepened Israel’s international isolation and reshaped the Middle East.

Trump announced the initial phase, which includes a ceasefire and hostage deal, thought it was short on detail and left many unresolved questions that could still lead to the collapse of the agreement, as has happened with previous peace efforts.

“President Trump’s leadership throughout the process of dialogue and negotiations reflects his unwavering commitment to world peace,” Sharif said in a post on X.

“The resolute and wise leaders of Qatar, Egypt and Turkiye are also to be applauded for their untiring efforts to negotiate a deal. Most of all, we must all pay tribute to the Palestinian people who have suffered in an unprecedented manner, one that should never, ever be repeated.”

Trump announced the deal on Truth Social, saying it meant the release of all hostages and Israel’s withdrawal of troops to an “agreed upon line.” The agreement could pave the way for desperately needed humanitarian aid to be immediately sent to Gaza Strip, where a global hunger monitor said in August over half a million people were experiencing famine.

Gaza authorities say more than 67,000 people have been killed and much of the enclave has been flattened since Israel began its military response to the Hamas cross-border attack on Oct. 7, 2023. Around 1,200 people were killed and 251 were taken hostage back to Gaza, according to Israeli officials, with 20 of the 48 hostages still held believed to be alive.

Pakistan, which does not recognize Israel, has consistently called for a ceasefire and uninterrupted delivery of humanitarian aid to Gaza. Islamabad backs an independent, sovereign and contiguous Palestinian state, based on pre-1967 borders.

“The world must hold the occupiers and illegal settlers to account and prevent any further actions that undermine the enormous efforts made by President Trump to reduce tensions and pave the way for lasting peace,” Sharif said.

“We will continue to work with partners, friends and the leaders of brotherly nations to ensure that peace, security and dignity for the Palestinian people are established in accordance with their wishes and UN resolutions.”

Hamas confirmed it had reached an agreement to end the war, saying the deal includes an Israeli withdrawal from the enclave and a hostage-prisoner exchange. But the group called on Trump and guarantor states to ensure Israel fully implements the ceasefire, it added in a statement.

Israeli Prime Minister Benjamin Netanyahu said he would convene his government on Thursday to approve the agreement.


Pakistani ex-senator detained by Israel in Gaza flotilla raid leaves Jordan for home

Pakistani ex-senator detained by Israel in Gaza flotilla raid leaves Jordan for home
Updated 09 October 2025

Pakistani ex-senator detained by Israel in Gaza flotilla raid leaves Jordan for home

Pakistani ex-senator detained by Israel in Gaza flotilla raid leaves Jordan for home
  • Islamabad earlier thanked Jordan for help as rights groups condemned Israeli seizure of Global Sumud Flotilla
  • The flotilla incident drew global condemnation, with rights groups calling for immediate release of detainees

ISLAMABAD: Former Pakistani senator Mushtaq Ahmad Khan, who was aboard the Global Sumud Flotilla seized by Israeli forces this month, has left Jordan for the Pakistani capital of Islamabad, the Pakistani embassy said on Thursday.

The Global Sumud Flotilla, an aid convoy carrying activists from several countries, was intercepted by Israeli naval forces on October 1 while sailing toward Gaza to deliver humanitarian assistance. The operation resulted in the detention of hundreds of participants, sparking protests in Pakistan and several countries.

The Pakistani ex-senator was among multiple Pakistani nationals on board the flotilla which departed from European ports carrying medical supplies and food for civilians in Gaza, where the humanitarian crisis has worsened amid months of Israeli bombardment and aid restrictions.

On Tuesday, Pakistani Deputy Prime Minister and Foreign Minister, Ishaq Dar, said Khan had arrived at the Pakistani embassy in Amman, Jordan and was in “good health and high spirits”, adding that he would return on October 9.

“Senator Mushtaq Ahmad has safely departed for Pakistan,” the Pakistani embassy said on X. “In accordance with the instructions of the Honorable Deputy Prime Minister of Pakistan, the Embassy of Pakistan in Amman ensured all necessary arrangements were made for his safe and smooth departure.”

Islamabad earlier thanked Jordan for their “exemplary cooperation and generous support” in this regard. Pakistan had already coordinated the safe return of several citizens who disembarked earlier, expressing gratitude to “brotherly countries” for assistance.

The flotilla incident drew international condemnation, with rights groups calling for the immediate release of detainees and renewed access for humanitarian aid to Gaza. The fleet consisted of 40 civilian boats carrying about 500 parliamentarians, lawyers and activists, including Swedish climate campaigner Greta Thunberg.

It was the latest sea-borne attempt to break Israel’s blockade of Gaza, much of which has been turned into a wasteland by almost two years of war that has killed over 65,000 Palestinians.