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    Pakistan, Japan sign $2.2 million grant agreement for civil servants’ scholarships

    ByJustpaste.in

    ISLAMABAD: The governments of Pakistan and Japan have signed a grant agreement worth JPY 350 million, equivalent to around $2.2 million, to support the Human Resource Development Scholarship Programme (JDS) for 2026. The agreement was signed during a ceremony held at the Ministry of Economic Affairs on Tuesday, August 11, as both countries reaffirmed their commitment to strengthening cooperation in human resource development and institutional capacity building. Secretary of the Ministry of Economic Affairs Muhammad Humair Karim and Japanese Ambassador to Pakistan Akamatsu Shuichi signed the Record of Discussions and Exchange of Notes during the ceremony. The grant agreement was separately signed by Miran Mohiyuddin Soomro, Senior Joint Secretary at the Ministry of Economic Affairs, and Yusuke Shinozaki, Chief Representative of the Japan International Cooperation Agency (JICA) in Pakistan. Senior representatives from the Embassy of Japan, JICA and Pakistan’s Ministry of Economic Affairs also attended the signing ceremony. 17 scholarships to be offered Under the latest phase of the JDS programme, 17 Pakistani government officials will receive scholarships to pursue higher education at leading Japanese universities. The 2026 programme will offer 16 scholarships for master’s degree programmes and one scholarship for a doctoral programme. The initiative is primarily aimed at young officers serving in Pakistan’s Federal Civil Service and Ex-Cadre services. The scholarship programme is designed to enhance the professional expertise of government officials by providing them with opportunities to acquire advanced academic knowledge and specialized skills in Japan. Officials who benefit from the programme are expected to contribute to policymaking, public administration and Pakistan’s broader socio-economic development after completing their studies. Ninth phase since 2018 The latest grant marks the ninth instalment of Japan’s JDS programme in Pakistan since its launch in 2018. Over the past eight batches, approximately 17 to 18 Pakistani officials per batch have benefited from the scholarship initiative. The programme has consequently created a growing network of Pakistani officials with exposure to Japanese academic institutions, public-sector practices and professional training. The JDS initiative is part of Japan’s broader development cooperation with Pakistan, with a particular focus on strengthening human resources and improving the capacity of government institutions. In addition to the long-term JDS scholarships, Japan also facilitates short-term training opportunities for Pakistani government officials in various fields. These programmes provide participants with exposure to international practices and technical expertise that can be applied to their respective departments in Pakistan. Focus on bilateral cooperation Speaking at the ceremony, Japanese Ambassador Akamatsu Shuichi reiterated Japan’s commitment to working with Pakistan on human resource development and other areas of mutual interest. JICA Chief Representative Yusuke Shinozaki also expressed the agency’s willingness to continue cooperating with the Government of Pakistan to strengthen institutional capacity and promote sustainable development. The Japanese side said such initiatives also contribute to closer people-to-people links and reinforce the longstanding friendly relations between Pakistan and Japan. The two countries have maintained development and economic cooperation for decades, with Japan supporting Pakistan through grants, technical assistance, training programmes and other capacity-building initiatives. The continuation of the JDS programme is expected to further deepen bilateral cooperation while equipping Pakistani public-sector officials with knowledge and skills that can support more effective governance and economic development.

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    [Puso at Diwa] Foreign currency deposit secrecy: Time for a constitutional rethink

    ByJustpaste.in

    The uncertainty surrounding the interaction between constitutional impeachment powers and statutory bank secrecy is itself a weakness in the country’s accountability framework

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    Yuchengco tells SEC’s Lim: Fresh PSE blood is shareholders’ call

    ByJustpaste.in

    (1st UPDATE) As Francis Lim pushes out the PSE board’s old guard with his new term limit rules, Vivian Yuchengco, the long-serving broker-director insists that ‘if shareholders want new directors, they can elect new directors’

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    Rs1.12 trillion tobacco case sparks Senate probe

    ByJustpaste.in

    Islamabad: A Senate subcommittee investigating cigarette smuggling and tax exemption misuse has raised serious questions regarding the possible recovery of Rs 1.12 trillion from the tobacco industry, alleged leakage of Customs data to private media, corruption complaints against officials and incomplete records provided by government departments. The committee ordered strict action, sought bank and asset details, and demanded a full investigation into the possible misuse of tax exemptions and consumption certificates. The committee strongly questioned how confidential Customs data reached private media organisations. Members observed that such information could not have been leaked without the involvement of Customs officials. The committee also questioned the conduct of media organisations regarding professional ethics. Federal Board of Revenue officials told the committee that an investigation into the data leak was already underway. The convener directed the FBR to take strict action against any official involved in leaking Customs data to the media and to submit a complete report. A major part of the meeting focused on the reported recovery of Rs 1.12 trillion linked to the tobacco industry’s consumption certificates. The committee questioned why complete details of consumption certificates issued for goods imported into tax exempt areas had not been provided. Officials informed the committee that the Peshawar High Court had ordered an audit before consumption certificates could be issued and had also stopped Pakistan Customs from cashing security cheques. The convener urged the FBR to challenge the court order before the Federal Constitutional Court and report back to the committee. The committee also reviewed the alleged misuse of tax exemptions by industries operating in tax exempt areas. Senator Talha Mahmood alleged that some industrialists were operating two or more factories, including one in a tax exempt area and another in a settled area. He further alleged that some Customs officials helped such businesses take advantage of the system. The Federal Investigation Agency told the committee that a team had been formed to investigate the matter. Senator Talha Mahmood said the FIA could help improve the process of issuing consumption certificates if the issue was handled seriously. He also recalled that Pakistan Customs had previously installed tracking chips on containers to check their movement and confirm whether goods reached their declared destinations. He called for stronger tracking and monitoring systems to stop smuggling and misuse of tax exemptions. The committee directed authorities to send letters to all factories operating in tax exempt areas, demanding complete details of imported materials, materials used, brand names and taxes paid during the last two years. Members were informed that Pakistan Customs had issued consumption certificates worth around Rs 378 billion. The committee also sought bank and account details of the companies in whose names those certificates were issued. The Chair observed that anyone refusing to provide required records or information could face legal action. The committee also examined serious allegations of corruption and theft involving officials. Three investigating officers identified as Shahzaib Ali, Fakhar Gondal and Christopher were presented before the committee regarding corruption allegations. The committee was informed that 22 people were allegedly involved in theft incidents and that 11 had been arrested. The committee directed authorities to provide details of assets allegedly beyond the known income of the accused officials. It also sought forensic examination reports of their mobile phones. Senator Talha Mahmood recommended that the Senate Standing Committee on Interior also take up the corruption case. The committee further examined tobacco industry consumption data and asked departments to provide records from earlier years in addition to the data already submitted. Officials briefed members about major raw materials imported by tobacco companies. The committee was told that around 20,002 metric tons of acetate tow had been imported. Around 97 percent of this quantity was reportedly used by two major companies, while the remaining 3 percent was linked to other companies. Officials also reported the import of around 15,639 metric tons of tobacco paper. Of this amount, around 10,840 metric tons was imported by Pakistan Tobacco Company, while Philip Morris imported around 3,118 metric tons. Other companies imported the remaining quantity. The committee was also told that around 533 metric tons of filter rods had been imported. Two major companies accounted for around 96 percent of this quantity, while other companies accounted for the remaining 4 percent. According to the briefing, Pakistan Tobacco Company and Philip Morris together accounted for around 94 percent of imported material consumed by the tobacco industry. Local companies accounted for the remaining 6 percent. The Chair expressed concern that government departments had still failed to provide complete and combined information to the committee. Officials informed the committee that Pakistan Tobacco Company and Philip Morris did not fall under the jurisdiction of RTO Peshawar. Pakistan Tobacco Company was under LTU Islamabad, while Philip Morris was under LTU Karachi. The committee directed the concerned tax offices to provide full details of taxes collected and imported material linked to both companies. The committee was also informed that four illegal cigarette manufacturing companies operating in Khyber Pakhtunkhwa had recently been sealed. Authorities were directed to provide full details of all companies operating under RTO Peshawar. The convener also asked officials to provide the formula used to calculate taxes on cigarettes. Senator Bilal raised concerns that Balochistan was still not receiving enough industrial development. He also complained that legal goods were sometimes being treated as smuggled items even when borders in Balochistan were sealed. Another controversy emerged over conflicting figures related to people arrested in theft cases. One briefing told the committee that 22 people were involved and 11 had been arrested. However, the Inspector General of the National Highways and Motorway Police also reported that 11 people had been apprehended. The committee sought clarification over the figures and demanded one accurate and complete position. Members expressed serious concern over what they described as a misleading statement made before the committee. The committee directed that a letter be sent to the Ministry of Communications and ordered that the matter also be referred to the Privileges Committee. The FBR representative told members that the department

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    Pakistan receives $3.6 billion in remittances in J…

    ByJustpaste.in

      KARACHI: Pakistan received $3.6 billion in workers’ remittances from overseas Pakistanis during July 2026, marking a significant increase compared with the same period last year, according to data released by the State Bank of Pakistan (SBP). The central bank reported that remittance inflows increased by 13% year-on-year in July and also recorded a 4.5% rise compared with the previous month. The latest figures highlight the continued importance of overseas Pakistanis in supporting the country’s foreign exchange position and overall economic stability. Saudi Arabia remained the largest source of remittances during the month, sending $913.9 million to Pakistan. The United Arab Emirates (UAE) followed with $737.3 million, while overseas Pakistanis in the United Kingdom contributed $555.5 million. The United States also remained an important source, accounting for $317.2 million in remittance inflows. Prime Minister Shehbaz Sharif welcomed the increase and expressed satisfaction over the $3.6 billion received in July. In a statement issued by the Prime Minister’s Office, he said the 13% year-on-year increase in remittances was encouraging and reflected the continued contribution of overseas Pakistanis to the national economy. The prime minister also highlighted the 4.5% month-on-month growth, saying that the consistent financial support provided by overseas Pakistanis was playing an important role in strengthening Pakistan’s economy. He described overseas Pakistanis as a valuable and integral part of the country’s economic mainstream. The latest figures have also generated positive expectations regarding Pakistan’s remittance outlook for the ongoing financial year. Topline Research estimated that remittances could reach around $40.1 billion during FY27 if the current trend continues. Economist Dr Khaqan Najeeb said remittances were becoming increasingly important as a source of foreign exchange, particularly at a time when Pakistan’s export sector continued to face difficulties. According to him, the country’s weak domestic economic conditions, limited employment opportunities and significant differences between local and international wages were encouraging more Pakistanis to seek employment abroad. He noted that the movement of workers overseas was resulting in a corresponding flow of foreign exchange back into Pakistan. The economist said these inflows were helping the country manage its balance of payments and reduce pressure on its external accounts. However, he also warned that the growing dependence on remittances highlighted deeper structural weaknesses within the domestic economy. Dr Najeeb pointed out that Pakistan’s increasing reliance on overseas employment reflected the country’s inability to generate enough productive and well-paying jobs at home. While remittances provide valuable financial support and strengthen foreign exchange reserves, he argued that sustainable economic growth requires stronger domestic employment opportunities and a more competitive export sector. The July figures therefore present both an encouraging development and a broader economic challenge. Rising remittances are providing Pakistan with much-needed foreign exchange, but policymakers also face the task of improving domestic economic conditions so that overseas employment becomes a choice rather than a necessity for a growing number of Pakistanis.