Father mourns son killed before wedding day

Islamabad: The government has stopped providing the Pakistan Remittance Initiative subsidy, which reached Rs120 billion, saying the country’s financial difficulties make it impossible to continue the support under the current budget. Banks have agreed to absorb the related costs themselves to keep overseas Pakistanis sending money through official channels. The development puts the spotlight on the future of Pakistan’s remittance system, which depends heavily on money sent home by Pakistanis working abroad. The government had previously used subsidies to help banks facilitate these transfers, but curtailed that support last year. The Governor of the State Bank of Pakistan informed the Senate Standing Committee on Finance and Revenue that the government had initially provided subsidies to banks under the Pakistan Remittance Initiative to facilitate remittances from overseas Pakistanis. The total subsidy provided by the government reached Rs120 billion. However, the financial pressure on the government has now made it difficult to continue paying this amount. The subsidy could not be continued in the current budget because of prevailing fiscal constraints. Instead, banks have decided to bear the costs linked to facilitating remittances from their own resources. The decision means that banks will continue providing the service to overseas Pakistanis even though the government can no longer provide the previous level of financial support. The Pakistan Remittance Initiative was discussed by the committee during its meeting at Parliament House in Islamabad on August 25, 2026, under the chairmanship of Senator Saleem Mandviwalla. The committee considered the government’s decision important because remittances sent by Pakistanis living and working abroad are a major source of foreign currency for the country. The State Bank told the committee that banks decided to continue bearing the associated costs so that the flow of remittances would not be disrupted. The committee appreciated the banks’ decision but also decided to examine their actual performance. Selected banks will therefore be invited to the committee’s next meeting to explain their performance and contribution to the remittance sector. The move comes at a time when the government is facing tight financial conditions and has been forced to reduce or reconsider spending commitments. The end of the Rs120 billion subsidy raises an important question about how the remittance system will operate in the longer term if banks continue to carry the costs without government support. For millions of Pakistanis working overseas, remittances are an important way of supporting families at home. These transfers help families pay for everyday needs and also bring foreign currency into Pakistan. The government’s decision does not mean that the remittance service has stopped. Instead, banks have agreed to continue facilitating transfers while paying the related costs themselves. The Senate committee has now moved to check whether banks are fulfilling this responsibility effectively and whether overseas Pakistanis are receiving proper services. The next meeting is expected to provide the committee with a clearer picture of how banks are handling the change after the withdrawal of the government subsidy. The key issue remains whether banks can continue carrying the financial burden while maintaining an efficient and reliable remittance system for overseas Pakistanis. The Rs120 billion figure also shows the scale of government support previously used to encourage and facilitate remittances through the formal banking system.

LAHORE: Authorities have arrested 28 suspects in Lahore, Faisalabad and Multan as part of a major crackdown on organised online fraud, exposing alleged schemes that relied on impersonation, fake investment opportunities and fabricated official identities to deceive citizens. The arrests were made during a province-wide operation by the National Cyber Crime Investigation Agency (NCCIA) Punjab, directed by Punjab Director Muhammad Ali Wasim, officials said. Investigators also seized 24 mobile phones and a laptop, which are now being examined for evidence that could lead to other members of the alleged network. The investigation has revealed how fraudsters allegedly manipulated trust to convince victims to hand over large sums of money. Millions allegedly lost in Lahore scam In Lahore, 18 suspects were arrested in separate operations. Investigators said the suspects allegedly impersonated relatives, visa agents, government officials and personnel associated with the Punjab Safe Cities Authority. In one case, suspects allegedly posed as both a relative and a visa agent and persuaded a victim to transfer Rs25.86 million. The case has highlighted how scammers can combine apparently familiar identities with urgent requests to make their schemes appear legitimate. Rs54.66m trading fraud uncovered Three suspects were arrested in Faisalabad in connection with alleged online trading fraud and unauthorised access to a company email account. According to investigators, a victim was shown fabricated trading records, digital-wallet balances and purported profit statements to create the impression that substantial returns were being generated. After being persuaded to invest, the victim allegedly lost Rs54.66 million, investigators said. The case demonstrates the growing sophistication of investment scams, where criminals allegedly use manipulated digital information to make fraudulent platforms appear genuine. Multan arrests expose impersonation tactics In Multan, seven suspects were arrested for allegedly posing as relatives, bank employees and individuals claiming to be based in Britain. Officials said victims were approached with various demands, including payments supposedly required for prize money, customs clearance, taxes and visa renewals. Such tactics typically create a sense of urgency, leaving victims with little time to verify the identity of the caller or the authenticity of the demand. Digital evidence now under forensic examination NCCIA investigators are examining the seized devices through forensic analysis. Financial transactions, call records and digital communications are also being reviewed to establish the full extent of the alleged operation and identify other people who may be connected to it. The crackdown comes amid growing concern over online financial fraud in Pakistan. The NCCIA’s own statistics identify financial fraud as a major category of reported cybercrime. The latest arrests underscore a simple but increasingly important warning: an apparently familiar voice, official-looking message or promising investment opportunity may not be what it seems. Authorities are expected to continue the investigation as they trace the alleged network and follow the digital and financial trails left behind.

Deputy Prime Minister and Foreign Minister Ishaq Dar held a meeting with Chinese Foreign Minister Wang Yi on the sidelines of the Shanghai Cooperation Organisation (SCO) Council of Foreign Ministers’ meeting in Cholpon-Ata, Kyrgyzstan. The two leaders reviewed Pakistan-China relations, exchanged views on regional developments and discussed expanding cooperation through multilateral platforms. The meeting reaffirmed the close and longstanding partnership between Pakistan and China. Both sides discussed ways to further strengthen bilateral cooperation in areas of mutual interest, including diplomacy, regional peace, economic collaboration and strategic coordination. During the discussions, Dar thanked Wang Yi for appreciating Pakistan’s diplomatic efforts aimed at promoting regional peace and stability. He said Pakistan remains committed to dialogue, cooperation and peaceful engagement in addressing regional challenges. Wang Yi congratulated Pakistan on its upcoming responsibilities within the Shanghai Cooperation Organisation. He extended his best wishes as Pakistan prepares to assume the chairmanship of the SCO Council of Heads of State for 2026–27 and host the SCO Summit in 2027. He expressed confidence that Pakistan would make a positive contribution to advancing the organisation’s objectives. Both foreign ministers also exchanged views on the regional and international situation. They agreed that continued consultation and cooperation among SCO member states are important for promoting peace, economic development, connectivity and regional stability. Earlier in the day, Dar met Kyrgyz President Sadyr Japarov at the presidential residence in Cholpon-Ata. During the meeting, he conveyed greetings from President Asif Ali Zardari and Prime Minister Shehbaz Sharif and thanked the Kyrgyz leadership for hosting the SCO foreign ministers’ meeting. The meeting with President Japarov focused on regional and global developments as well as the growing role of the SCO in strengthening cooperation among member states. Dar highlighted the importance of maintaining close collaboration as Pakistan prepares to lead the organisation during its upcoming chairmanship. The foreign minister is representing Pakistan at the two-day SCO Council of Foreign Ministers’ meeting, attended by foreign ministers from China, Russia, India, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Belarus and Pakistan. The meeting is reviewing key regional and international issues while preparing the agenda for the next SCO summit.