Apple forecasts slower sales growth as supply chain problems continue

LAHORE: Pakistan’s long-delayed Main Line-1 (ML-1) railway modernisation project has entered a crucial stage, with the government setting October 30, 2026, as the deadline for completing the ongoing review process and announcing plans to begin the second round of market consultations next month. The latest developments are expected to help resolve outstanding technical, financial and procedural matters and move the country’s largest railway infrastructure initiative towards formal implementation. The second round of market consultation is scheduled to commence on September 8. International experts, prospective investors and other relevant stakeholders will be consulted during the process to seek their views on project preparation, implementation arrangements, financing and the future course of the scheme. The consultations are considered an important step before the government proceeds towards the execution stage of the project, which has faced repeated delays over the years because of financing, technical and procedural challenges. Weekly reviews ordered Pakistan Railways Chairman Syed Mazhar Ali Shah chaired a high-level meeting at the railway headquarters on Saturday to review progress on ML-1. During the meeting, the chairman directed international design consultants, review consultants and senior railway officials to maintain close coordination and ensure that work on the project continues without unnecessary interruptions. He also ordered weekly progress reviews, instructing officials to identify unresolved matters at an early stage and take immediate steps to remove bottlenecks. The Karachi-Rohri segment received particular attention during the meeting as it has been identified as the first section to be developed under the revised ML-1 plan. Karachi-Rohri section According to official documents presented before the National Assembly, the Karachi-Rohri portion covers approximately 480 kilometres and has an estimated cost of $2.04 billion. Construction of the section is expected to take around three years once the project moves into the implementation phase. The government has engaged the Asian Development Bank (ADB) to arrange financing for this segment. Pakistan has also secured a $10 million Project Readiness Financing loan to support preparatory work required before full-scale implementation. The Karachi-Rohri corridor is strategically significant because it handles a substantial volume of both passenger and freight traffic. Its modernisation is therefore expected to provide an immediate improvement to the efficiency of the national railway network while creating a foundation for upgrades on the remaining sections. Government optimistic about launch Federal Minister for Railways Hanif Abbasi has expressed optimism that the flagship project could finally enter the implementation phase during the current year. The minister said progress on ML-1 had improved and that the government was working to ensure that the remaining requirements were completed within the agreed timelines. He said Prime Minister Shehbaz Sharif was closely monitoring the project and had directed the relevant authorities to ensure its completion according to schedule. According to the minister, ML-1 represents the foundation of Pakistan Railways’ long-term modernisation strategy. He said upgrading the railway corridor would help increase train speeds, improve passenger services and enhance the overall operational efficiency of the rail network. The minister also stressed that transparency, merit and competitive procedures would be followed during the project. He added that recommendations from international experts, market participants and technical consultants would be considered while finalising the implementation strategy. 1,726-km railway corridor The ML-1 project covers the modernisation of the 1,726-kilometre Karachi-Peshawar railway corridor, which serves as the backbone of Pakistan’s railway system. Under the rationalised plan, the corridor has been divided into five major sections:  Karachi-Rohri  Rohri-Multan Multan-Lahore Lahore-Rawalpindi Rawalpindi-Peshawar The government has estimated the total cost of the rationalised ML-1 project at approximately $6.66 billion. The scheme is intended to transform the existing railway infrastructure by improving track quality, signalling systems, operational capacity and train speeds. Higher speeds and improved capacity Earlier official plans for ML-1 envisaged allowing passenger trains to operate at speeds of up to 160 kilometres per hour on upgraded portions of the corridor. The project also includes improvements in axle-load capacity, rehabilitation and strengthening of railway tracks, modern signalling and communications systems, as well as doubling of single-track sections wherever necessary. These improvements are expected to reduce journey times and increase the number of trains that can operate on the corridor. For Pakistan Railways, the project is also viewed as an opportunity to strengthen freight operations and improve the movement of goods between the country’s major commercial centres and ports. Financing remains crucial Despite the renewed momentum, financing remains one of the most important requirements for taking ML-1 into full-scale construction. The government has been working with international development partners to secure funding for different components of the project, while the completion of technical studies, project documentation and financial arrangements remains essential before construction can begin. The ADB-backed Karachi-Rohri section is expected to serve as the starting point for the wider modernisation programme. Officials have previously indicated that preparatory work for the section could begin in 2026, provided the remaining financial and documentation requirements are completed. A long-awaited railway overhaul ML-1 has been discussed for years as a transformative project for Pakistan’s railway sector, but its implementation has repeatedly been delayed because of the scale of investment involved and disagreements over financing and project structure. The government’s decision to set a firm deadline for completing the review phase and hold another round of market consultations signals an effort to bring the project back on track. Regular monitoring by Pakistan Railways, engagement with international consultants and consultation with potential stakeholders are now expected to play a central role in finalising the project. If the remaining technical and financial hurdles are addressed according to the new schedule, the Karachi-Rohri section could become the first major construction phase of the broader ML-1 programme. The government believes that successful implementation of ML-1 would not only modernise the country’s ageing railway infrastructure but also improve passenger connectivity, strengthen freight transportation, reduce travel times and enhance the competitiveness of Pakistan Railways.

Pakistani crew members held by Somali pirates have made another emotional appeal for government help. The hostages have been in captivity for more than 100 days. They are seeking urgent action for their release. The crew members are aboard the MT Honour 25. The Palau-flagged oil tanker was hijacked by armed pirates off the coast of Puntland, Somalia, on April 21. The vessel was carrying between 17 and 19 crew members. Ten of them are Pakistani nationals. Seven Indonesians, an Indian and a Sri Lankan are also among those being held. In newly released video messages, several hostages appeared weak and unwell. They appealed to the Pakistani government to intervene. Yasir Khan, one of the Pakistani hostages, said several crew members had fallen ill. He said they were facing difficulties in obtaining medicines. Khan urged Prime Minister Shehbaz Sharif to take immediate action. He also appealed to Foreign Minister Ishaq Dar and Maritime Affairs Minister Junaid Anwar Chaudhry. He asked the authorities to secure their release before their health situation became more serious. Khan also appealed to Jamaat-i-Islami chief Hafiz Naeemur Rehman. He requested him to continue efforts for the hostages. Another hostage, Hussain Yousuf, said more than 100 days had passed since their capture. He said the crew still had no clear information about when they would be released. Yousuf appealed to the prime minister and Chief of Defence Forces and Army Chief Field Marshal Asim Munir to intervene. He warned that further delays could lead to serious consequences. The crew has released several messages since the hijacking. In previous appeals, the hostages reported shortages of food, clean water and medicines. Their deteriorating condition has increased concerns among their families. The pirates have reportedly demanded a ransom of around $3 million. However, no confirmed breakthrough has been reported in negotiations. Pakistan’s Foreign Office said the government was closely monitoring the situation. Foreign Office spokesperson Tahir Andrabi said several government departments were involved in efforts to secure the crew’s release. The process includes the Ministry of Human Rights, the Ministry of Maritime Affairs and other relevant agencies. Andrabi said the case was particularly difficult because the hostages were being held in an autonomous region of Somalia. He said local tribal structures and influential figures had also complicated negotiations with the pirates. Pakistan, he added, remained in contact with the Somali government and relevant authorities. It was also coordinating with international organisations involved in the matter. The Foreign Office expressed sympathy with the families of the hostages. It said their concerns were understood and that the case remained a priority. The government said all possible efforts were being made to secure the crew’s release and bring them home safely. The case has also been complicated by uncertainty surrounding the ownership of the tanker. Questions remain over who legally owns the vessel. The person previously believed to be its owner was later reportedly identified as a middleman who had helped hire the crew. Meanwhile, the latest distress messages have renewed pressure for urgent action.