The Mechanics of Feelings, Thoughts, and Awareness

When rain descends from the folds of clouds, it assumes the form of divine mercy for the earth—reviving parched soil and spreading smiles across the weary faces of farmers. Yet, when this very rain turns unbridled and the administrative apparatus built to welcome it pulls a heavy shroud of negligence over its eyes, this descent of mercy transforms into a harrowing shape of torment and sudden calamity. Gujrat, a historic and industrial city of Punjab that holds a unique global identity through its civilizational expanse, skilled artisans, and proximity to the Chenab River, presents the terrifying spectacle of a pond and a swamp every monsoon season. Here, urban flooding is no longer merely a climatic accident; rather, it has become a chilling confession of administrative apathy, unscientific planning, and a criminal denial of historical geographical realities. When the hydrological management of cities is evaluated on a global scale, the concepts of “Sponge Cities” are put into practice, but our reality stands in stark opposition. When the state of urban drainage in Gujrat is objectively reviewed through the corridors of history, one’s eyes are opened to the bitter truth that the rulers and elements who dominated this city consciously hollowed out its roots at every level for the gratification of greed. The city’s drainage and sewerage system, in particular, fell prey to the plunder of commission agents belonging to the corruption mafia. It is an immensely agonizing chapter of history that two decades ago, when a renowned international Japanese company completed a detailed survey of Gujrat, officially announced its complete reconstruction on modern lines, and promised a world-class drainage system, the hungry brokers sitting in the echelons of power burnt this magnificent project in the fire of personal lust. The people of Gujrat can never forget the actors who sacrificed the Japanese company’s dream at the altar of kickbacks. Later, when times changed and Chaudhry Pervaiz Elahi assumed the helm of this region as Chief Minister, he released heavy, voluminous funds amounting to billions of rupees to radically improve and modernize Gujrat’s decrepit and worn-out drainage system. Yet the tragedy was that these billions of rupees in Gujrat’s history remained restricted to a few specific and powerful pockets, and to openly divide these funds, the entire system was mortgaged to a fostered contractor mafia. With an exceptionally substandard, superficial, and unprofessional approach, this mafia played a game of window-dressing that instead of fixing Gujrat’s sewerage system, ruined it permanently and turned the entire city into an artificial swamp. Today, the agony of drainage dancing through the city’s streets and roads offers no hope of deliverance from this terrifying urban flood unless a severe accountability of these true, deceitful culprits is carried out. The political leadership that followed also made efforts suited to their respective statures for the betterment of the city; and although their own technical errors consistently hampered this improvement, every resident of Gujrat continues to carry the heavy burden of those primary sinners who devastated Gujrat’s history, civilization, and urbanity. Last year, when urban flooding once again descended upon the city as a mortal torment, uproar echoed everywhere, the wheel of life halted, and the situation reached a point where the Chief Minister of Punjab had to personally make an emergency visit to Gujrat to rescue the district administration from this storm of incompetence. During this visit, a heavy downpour of announcements and promises took place, accompanied by the release of special funds worth billions for complete and sustainable improvement next year. Despite the sincere efforts and financial provisions of Honorable Maryam Nawaz Sharif, the district administration—entrenched in a colonial mindset—spent all its energies throughout the year on personal image-building and photo sessions rather than the timely completion of this vital sewerage project. As ill luck would have it, as soon as the monsoon season arrived once again this year, the colorful balloon of good governance and claims deflated entirely, exposing the bitter reality that this malaise of flawed planning persists and rainwater continues to rain down as a torment upon citizens’ lives. And when this rainwater has already devastated citizens’ lives, wounding their homes and businesses, only then do the traditional efforts of WASA and district institutions begin to bear fruit, with water finally receding from the streets after prolonged suffering. Success drums are then beaten over this very temporary performance, adding salt to the injuries of the citizens. A profound study of Gujrat’s urban geography reveals that its foundations and topography are deeply embedded in its centuries-old historical backdrop. Built during the Mughal era, the Akbari Fort serves as the greatest metaphor for the region’s military, political, and administrative history. Viewed from a geographical and topographical standpoint, the Akbari Fort is situated on a relatively high mound or plateau, and the city’s older structural layout spreads outward from this height in gradual slopes in all directions. Principally and naturally, this elevation of the fort and the surrounding natural slopes should have stood as an exceptional geographical blessing for a drainage system—provided the natural pathways of water flow had been preserved and left unmolested by grotesque tampering. The tragedy, however, is that over time, unbridled urban expansion and a flood of encroachments mutilated this natural sloping system so ruthlessly that today, that very height and slope have turned into a bane for the city. Unchecked commercialization and illegal constructions in and around the Akbari Fort and its adjoining low-lying areas have blocked all traditional water routes in such a manner that water finds no outlet. The consequence is that when rainwater flows down from the elevated parts of the fort, instead of finding an open path or paved drain ahead, it encounters dead alleys, narrow sewage pipelines, and an endless siege of encroachments. Consequently, this water accumulates in lower regions to form a permanent lake, leaving city residents weeping over their helplessness. Gujrat’s tragedy is not merely the accumulation of rainwater; it is a reflection of that collective apathy and corruption which wakes up with the arrival

   For as long as the world can recall, the United States have controllably preserved their seat as the strongest one in the council of global superpowers- defeating the Nazis, USSR and setting their currency as the medium of trade and exchange. However, in recent events this strong hold seems to have become weakened as on the other side of the world a new power emerges, a power that the United States considers the biggest threat to their existence- the new super power China.   Ironically, China was still developing and submerged in poverty a few decades ago holding up its communist views and rejecting the new capitalist western world. Though they were not completely cut off on giving this new ideology a try, opening their first economic zone in Shenzhen in 1980 to pursue foreign investments and market based economic trade. Soon enough they realized the potential it had and once they started, they were quite impossible to stop.   It was in the 2010s that China had found numerous ways to include itself in the exporting and manufacturing industry. Every household was filled with items labeled “made in China”, however they were referred to as a low quality item hence cheaper. China nevertheless learnt, and they were fast learners. They knew that in a world dominated and feared by the United States they would have to have a friendlier approach. They started helping countries including Pakistan and many African nations with infrastructure projects in exchange for leverage and usage of their resources.   On the outside it seemed like a friendly deal, a helpful one even, but China knew that this was their way into achieving ultimate domination. The US was watching this very closely knowing very well what kind of abomination was taking place in front of their eyes, yet they could only spread propaganda about it, calling it “Debt trap Diplomacy” and “Predatory Lending”. The world did not give much thought since theyfinally had someone helping them without any threats and sanctions which they had experienced harshly in the past with the United States .   Uptil now, the USA still had the upper hand on oil and currency domination which was soon to get shaken up as well. Bill Clinton had put a ban on trading Iranian oil in his regime and so was done to Russia after they invaded Ukraine, meaning almost the whole world trading in US dollars could not buy Russian and Iranian oil.  Few of the other powerful currencies that could trade without the US dollar are euro, Japanese yen and Chinese yuan. Thus only China had the willingness to buy the sanctioned oil in their currency under different company names, trade routes which the US would find it difficult to identify and stop.   The United States has had  a history of having these geographical threats against major countries in order to secure their position. The same goes with China, with them using the strait of Malacca in southeast Asia as a passage they could close which would disrupt 80% of China’s oil trade. Chinese leaders have called this the “Malacca Dilemma” in the past.   Since the Iran war, it has come to light that China has once again found a path out of this misery and showed the world silently that this dilemma is far gone. When the whole world was panicking due to the Strait of Harmoz shutting down, China with no hurdles dropped their oil imports by 50% and started using their oil reserves which were more than double than usa. This was a direct showcase to the USA that even if they block straight out of Malacca- China will survive and wont go into an economic shutdown.   Now it is very evident that China has secured its position as an export leader, having significant oil reserves, defenses as well as the support of major countries through mutual diplomacy, and the US is forced down on its knees- especially after the Trump and Biden administration. The US has no options but to comply with China which was seen when Trump and his billionaire delegation visited China- which they were deemed to be intimidated by.

June 24, 1989, Comrade Jiang Zemin assumed the charge of Secretary General of the CPC just after the Tiananmen Square incident. This was orchestrated by ideological rivals, who instigated people with foreign support under the guise of corruption, inflation, political participation, and human resource development for the new economy. No doubt there were challenges, but the government was doing everything it could to control them and bring positive change to people’s lives. It required patience and time. However, the ideological rivals and foreign forces decided to exploit that window of opportunity and bring down the CPC.   Therefore, right after assuming the charge, Secretary General Jiang Zemin had to deal with Western countries’ false propaganda campaign against China. The West was propagating that China used brutal force and undermined human rights. However, it did not shake his determination to restore stability, the cornerstone of CPC policy. CPC is convinced that without stability, the country cannot move forward. After tackling it, he focused on economic reforms, especially after becoming President and paramount leader in 1993. From here, a new phase of reforms started. The CPC, with President Jiang at its core, began to juggle policies and options to sustain growth, ensure stable government revenue, and address people’s problems. Thus, President Jiang Zemin, with the guidance of elders, especially Deng Xiaoping, accelerated the reforms and the introduction of market-oriented policies. He took many innovative decisions to accelerate economic growth, enhance outreach, and strengthen international relations and security. First, he kick-started the first phase of privatization to reduce the burden on the State and spur private sector growth. The number of State-owned enterprises fell from 262,000 to 159,000. Almost 40 million people lost their jobs, but China continued the reform.  However, China’s privatization was led by a wise and smart policy. First, China identified the requirements for the private sector and SOEs to ensure a balance between tax and non-tax revenue. Second, China did not privatize critical industrial sectors or enterprises. Third, China established mechanisms to mitigate the impact on people and keep them engaged, thereby ensuring stability.   Second, President Jiang Zemin led China’s accession to the World Trade Organization (WTO). It was another landmark decision, which revolutionized China’s economic growth and development. After joining the WTO, China grew and developed by leaps and bounds. It also ushered in a new era of global economic linkages, which helped China develop rapidly and curb poverty. China is now the world’s largest trading partner, with over US$6 trillion in 2025, and the second-largest economy. Third, he prohibited the army from taking part in economic ventures.  Third, he introduced a strategy to revitalize the economy through science and education. He launched two landmark initiatives, Project 211 and Project 985, under this strategy. Project 211 was designed to build institutions for the 21st century. It was decided that 100 universities would be prepared for the 21st century.  For that purpose, 115 universities were identified. Project 985 was designed to create world-class universities, and 39 universities were under the project.   On the diplomatic front, he also achieved many successes. First, Hong Kong and Macau were reunited with the mainland. Second, he signed a friendship treaty with Russia and launched the Shanghai Cooperation Organization (SCO) in collaboration with Russia. Now, the SCO is one of the world’s major organizations in a multipolar world. Fourth, he also completed China’s accession to the World Trade Organization (WTO).  However, President Jiang Zemin’s most significant work was his theory of the Three Represents: the development trend of China’s advanced productive forces, the orientation of China’s advanced culture, and the fundamental interests of the overwhelming majority of the Chinese people. The Three Represents theory is a major work of the Party, following Deng Xiaoping’s theory, in building the modern Party. It reflects the CPC’s philosophy and Chinese political culture, which emphasize evolution and reform in line with ground realities. However, the interests of the people must be the paramount guiding principle. President Jiang Zemin started work just after assuming the position of Secretary General, following Tiananmen Square.  The analysis of Three Represents highlights three important things. First, it urges the Party to better serve the people and embrace new classes. Thus, Three Represents opened the Party’s doors to new classes including entrepreneurs, businessmen, and professionals. It was necessary to diversify and give development new impetus by making the Party more inclusive. However, it sparked debate among Party members and other circles. The conservative elements of the Party were not ready to accept the business community and entrepreneurs. However, there was wider support for the inclusion within and outside the Party.  Second, Three Represents encouraged the enhanced role of science, education, and technology in leading the new phase of development. Although the revitalization of the economy through science and education was already underway, there was a need to accelerate the process further.  Third, the Party envisioned that it must strive to modernize culture in accordance with socialist values and norms.  Simultaneously, President Jiang Zemin also encountered some serious problems. First of all, relations with the USA were a constant irritant. The USA continued to interfere in Taiwan and internal affairs. The situation was further complicated by the bombing of the Chinese embassy in Belgrade and the Hainan incident by USA forces. The Hainan incident was a complicated issue that threatened peace. Second, the third Taiwan Strait Crisis appeared during his tenure. On the domestic front, he had to face an intensive debate over the inclusion of business groups and entrepreneurs in the Party. Moreover, privatization, especially after accession to the WTO, generated debate in the country. However, he solved these issues with wisdom and smart policy.   In conclusion, the above discussion indicates that President Jiang Zemin assumed leadership at a critical rather than a difficult time. However, he steered the country with dedication, wisdom, and smart policies. The ultimate objective of his policies was to serve the people and build an inclusive Party in line with new realities. That’s why he is considered one of

A few days ago, Mr. Hakan Fidan, the Foreign Minister of Turkey, briefed the media on the MJDA. He said that the operational mechanisms will be decided at the first meeting of the joint committee comprising the foreign and defense ministers and the Chief of General Staff. He also provided an overview of possible areas of cooperation. In this context, it is high time to discuss the future orientation of the MJDA, especially areas of cooperation and investment to build a future-oriented alliance. A few areas have been identified for consideration.   First of all, the three partners must understand that the era of traditional war is rapidly becoming irrelevant. The concepts of 5th-, 6th-, 7th-, and 8th-generation warfare are evolving into new dynamics: 9th-generation warfare. Thus, Cooperation under MJDA must be based on the new elements and needs of 9th-generation warfare, in addition to traditional areas. Now the question is, what is 9th-generation warfare? 9th-generation warfare has a few characteristics that distinguish it from past generations of warfare.   First, 9th-generation warfare will minimize, if not eliminate, the role of humans to a greater extent. The first glimpse of this type of warfare is evident in the form of unmanned UVs. Russia-Ukraine and USA-Iran wars further reinforce this argument. However, humans are still engaged in one way or another in wars, including devising and executing plans and engaging in face-to-face combat. For example, during the application of 4th- and 5th-generation warfare in the Middle East, humans remained a constant factor in leading and executing the wars. After the bombardment of Iraq, it was humans who captured the land.   However, it is anticipated that artificial intelligence will take over this job in future wars, and future wars will be run by artificial intelligence and its tools. For example, in 9th-generation warfare, artificial intelligence-based robots can take over the role of humans. Robots can invade a country, or they can also be used in guerrilla warfare. Countries can also use robots to conduct terrorist activities. They can send the robots with an anonymous identity, and no one will be able to trace the origin. Organized crime organizations can also use them to conduct their activities, such as targeted killings.   Let’s imagine another scenario. Robots are invading a country. They fight either humans or other robots. Countries with better technology can turn robots into double-edged weapons. On the one hand, robots will be fighting machines. However, they can also equip robots with destructive explosives, such as nuclear material or other explosives. Then what would be the opponent’s choices? How will opponents fight an explosive-ridden robot? They will take over the country if they do not stop the robots. On the other hand, if they try to destroy the robots, the nuclear explosives will detonate, which can cause serious damage. The scenario would be quite scary, and countries with advanced robot and AI technology can maneuver situations in their favor.   Second, the most developed countries have recently taken war into outer space, especially the USA. The USA’s obsession with and investment in outer space have compelled other countries to follow the suit. As a result, they are investing heavily, instigating an outer space race for dominance. The race has accelerated since the establishment of the US Space Force. According to the Vice President of the USA, Mr. Pence, the force was launched with four specific objectives. First, U.S. Space Command “will establish unified command and control for our Space Force operations; ensure integration across the military; and develop the space warfighting doctrine, tactics, techniques and procedures of the future.” Second, a military astronaut corps, which Pence called “an elite group of joint warfighters specializing in the domain of space.” Third, a Space Development Agency that will research and develop new technologies and “ensure cutting-edge warfighting capabilities.” Fourth, new bureaucratic structures that will define “clear lines of responsibility and accountability to manage the process of standing up and scaling up the United States Department of the Space Force.”   The USA and its allies are enhancing cooperation to outpace others and dominate outer space. As a result, they have launched a malicious campaign against China and Russia. They are portraying China and Russia as threats to global peace and to the use of outer space to attract public attention, support, and financial resources. At the same time, they also want to hinder the advancement of other countries in space technology to maintain their hegemony in the application of space technologies for war dominance. For example, during the Gulf War of the 1990s, the USA and allied forces used space technologies to outmaneuver their opponents. Since then, the USA and its allies have been working to further improve space technology and prevent other countries from developing these technologies.   Therefore, it is anticipated that space war will be multifaceted. On the one hand, there will be a race to control or maneuver opponents’ satellites by interfering with their software. This will be done to obtain information or spread disinformation. Sending arms into space to destroy opponents’ satellites is also possible. On the other hand, some countries have developed capabilities to hit satellites from the ground. This has opened a new field of military offense.   The use of space technology for military dominance created fear in the developing world. They fear that leading countries in space technology will use space for control and interference, collect information, and dictate to other countries. For example, the USA uses navigation systems to collect data and outmaneuver others in wars.   Third, in recent times, we have observed that COVID-19 has played havoc with humanity. It has shaken the whole world. The whole world came to a standstill. Markets were closed, and the tourism industry sank. It has introduced the world to a new danger of biological war. Biological war is considered one of the most lethal forms of war, as only one person can paralyze the world. One virus can shut down the whole world

Distrust in Azad Jammu and Kashmir is linked to a small but organized group that allegedly used social media manipulation, propaganda, and genuine public grievances to create an impression of widespread support disconnected from reality, deepening divisions within society and straining relations between the state and its citizens. The Rawalakot protests are said to have involved only a small fraction of AJK’s population of about four million, with fewer than 40,000 participants at peak attendance and likely around 10,000–15,000 overall, while more than five times that number reportedly traveled from Rawalakot to Rawalpindi on June 6 and 7. Many families moved weddings to Rawalpindi and Islamabad, sick people and schoolchildren left the town, and hundreds of families delayed school and college admissions until August because of the disruption. Most residents remained away from the protests to protect their families, forming a “silent majority,” while around 90 percent of people in other districts are said not to support the protesters’ agenda. Large political rallies in Muzaffarabad, Kotli, Dhirkot, and Bhimbar are taken as evidence of stronger support for the constitutional political process than for the Rawalakot sit-in. Around 10,000–15,000 protesters are held responsible for disrupting daily life, damaging the economy, creating fear and uncertainty, and causing disorder over an issue that could have been resolved through legislation, dialogue, and democratic institutions rather than confrontation and violence. Aided by a few journalists acting as propagandists, the movement is accused of using manipulated images, fake news, and emotional appeals to create the impression that the whole of Azad Kashmir supports it, even though the participants are said to constitute less than 10 percent of Rawalakot’s own population.   The government has addressed many demands by reducing electricity and flour prices, abolishing refugee ministries, reducing the number of ministers, halving the property transfer tax, completing the Rathwa Hariyam Bridge, withdrawing FIRs and legal cases, compensating the families of those killed and 56 injured people, providing a government job to Azhar’s brother, approving a Rs. 5.5 billion PC-1 for MRI facilities, and approving a Rs. 9 billion PC-1 to improve the power transmission system.   The application to make Azad Kashmir Bank a scheduled bank has been submitted to the State Bank of Pakistan, a move that will strengthen the financial sector and provide greater access to banking services for the people. The health card has been restored, a vital social safety net program that provides access to medical care for those who cannot afford it, and its restoration was a major victory for the people. Two new boards of education have been established, decentralizing the education system and allowing for more focused and effective administration of schools. The Mansehra, Muzaffarabad and Mangla expressways are included in the CPEC project, a game-changing development that will bring massive investment, improve connectivity, and create economic opportunities for the region. The establishment of Mirpur Airport was announced by the Prime Minister of Pakistan on live television, a major milestone that will open up the region to the world and facilitate trade and tourism, and work on the feasibility has started, with the project now moving from the planning stage to reality. The quota system has ended, a long-standing demand that was seen as discriminatory and unjust, and its abolition was a major step towards equality and fairness. Additional departments were abolished and merged with existing departments, a move that reduced bureaucracy and made the government more efficient. The e-tendering of electricity meters was approved, a reform that will ensure transparency and fairness in the procurement process. The demand for 30 KVA for schools and colleges was approved, and the notification has been issued, ensuring that educational institutions will have access to a reliable power supply. Now, among the remaining demands, there is a demand for 4 tunnels and bridges, infrastructure projects that are undeniably needed and would greatly benefit the people, but in reality one single tunnel is estimated to be completed in 10 billion rupees, and the total development budget of Azad Kashmir is less than 40 billion rupees, meaning that these projects cannot be built overnight. The government or no one has any magical capabilities, and no airport, bridges, and tunnels can be built overnight, as they require years of planning, feasibility studies, environmental assessments, and massive financial outlays that must be spread over many years.   In fact, after approving so many demands, after demonstrating such a clear willingness to address the grievances of the people, to insist on only one remaining demand and to lay siege to the entire region and paralyze the lives of millions, one must ask a crucial question: is it the stubborn government or the action committee that is being unreasonable?   The so-called peaceful revolutionary sit-in of the banned Joint Action Committee has been completely exposed for what it really is, and the mask of peaceful protest has slipped to reveal the ugly face of violent insurgency. Their so-called rational teams, which were presented as peaceful negotiators and organizers, are in fact positioned on rooftops with state-of-the-art SMG guns and ultra-expensive military binoculars, and their purpose is not to maintain order but to monitor the security forces on the ground, tracking their movements and planning for a confrontation. This is not a political sit-in, which is a legitimate form of protest in a democracy, but a planned military confrontation against the security forces of the state, a deliberate strategy to provoke a reaction and to create martyrs. Recently a banned Action Committee’s leader made a revealing statement, admitting to the supply of modern US-made M4 rifles to troublemakers, a serious accusation that confirms the armed nature of the group and its intent to use violence against the state. The banned JAAC is using fake and AI generated videos and posts to get the support of the people, manufacturing evidence and creating a false reality to manipulate public opinion, and these fabricated materials are spread widely on social media to create a sense of crisis and to incite hatred.

Climate change is no longer solely an environmental concern, it has become one of the defining economic and trade challenges of the twenty-first century. Around the world, governments are increasingly using market-based mechanisms to reduce greenhouse gas (GHG) emissions while maintaining industrial competitiveness and economic growth. Among these mechanisms, the Emissions Trading System (ETS) has emerged as one of the most effective policy instruments. According to the World Bank’s State and Trends of Carbon Pricing 2026, there are now 87 carbon pricing instruments operating globally, including emissions trading systems and carbon taxes, covering nearly 30 percent of global greenhouse gas emissions. These instruments generated over US$107 billion in public revenues in 2025, demonstrating that carbon pricing has evolved from an environmental policy into an important pillar of economic and fiscal governance. In the case of Pakistan, one that is most vulnerable to climate change, the discourse & discussion on emissions trading has become increasingly pertinent. While Pakistan contributes less than one percent of global greenhouse gas emissions, it remains among the nation’s most severely affected by climate-induced disasters. The catastrophic floods of 2022 alone caused economic losses estimated at more than US$30 billion, highlighting the enormous economic costs of climate vulnerability. As Pakistan seeks to achieve sustainable economic growth while fulfilling its commitments under the Paris Agreement, an Emissions Trading System offers an opportunity to integrate climate action with industrial competitiveness, investment promotion, and long-term economic resilience. An Emissions Trading System, commonly referred to as a cap-and-trade mechanism, establishes a limit on the total amount of greenhouse gas emissions that regulated industries are permitted to emit. Within this overall cap, companies receive or purchase emission allowances that authorize them to emit a specified quantity of carbon dioxide or its equivalent. Firms that reduce their emissions below their allocated limits can sell their unused allowances to companies that exceed their emission caps. This market-based approach creates a financial incentive for industries to invest in cleaner technologies, improve energy efficiency, and reduce emissions while allowing businesses the flexibility to determine the most cost-effective compliance strategy. The success of emissions trading systems across the world demonstrates the growing importance of carbon markets in modern economic management. The European Union Emissions Trading System (EU ETS), launched in 2005, remains the world’s largest multinational carbon market and has significantly reduced emissions from power generation, manufacturing, and aviation. China now operates the world’s largest ETS by emissions covered, initially focusing on the power sector and gradually expanding to additional industries. South Korea, New Zealand, Switzerland, the United Kingdom, Kazakhstan, and several states in the United States and Canada have also established operational emissions trading systems tailored to their economic structures. Collectively, jurisdictions accounting for almost two-thirds of global GDP have either implemented or are actively developing direct carbon pricing mechanisms, signalling that carbon markets are rapidly becoming mainstream economic policy rather than experimental environmental initiatives. Across South Asia, governments are increasingly recognising carbon markets as instruments of economic competitiveness rather than solely environmental regulation. India has initiated the Carbon Credit Trading Scheme (CCTS) while expanding its long-standing Perform, Achieve and Trade (PAT) programme to improve industrial energy efficiency. Bangladesh is developing the institutional and regulatory foundations needed to participate in voluntary carbon markets and future compliance mechanisms. Together, these developments indicate a gradual regional shift towards integrating climate policy with industrial development, trade competitiveness, and sustainable economic growth. Pakistan has also begun laying the foundations for a future carbon market, although the country remains at an early stage of development. The National Climate Change Policy, Pakistan’s updated Nationally Determined Contributions (NDCs), and the National Adaptation Plan recognise the importance of market-based mechanisms for reducing emissions. The Ministry of Climate Change and Environmental Coordination, together with development partners including the World Bank, GIZ, UNDP, and the Asian Development Bank, has initiated policy dialogue and capacity-building initiatives aimed at strengthening Pakistan’s carbon market readiness. At the provincial level, Punjab has emerged as the frontrunner in preparing for emissions trading. With technical support from GIZ, the Environment Protection and Climate Change Department and the Planning and Development Board have initiated collaborative efforts to develop the institutional architecture necessary for an Emissions Trading System. These initiatives include the development of emissions inventories, digital Monitoring, Reporting and Verification (MRV) systems, the Green Credit Initiative, and the strengthening of Punjab’s Climate Watch platform to improve emissions monitoring and support evidence-based climate decision-making. Although these initiatives do not yet constitute a formal ETS, they represent important building blocks for a future provincial pilot that could eventually inform the development of a national emissions trading framework. Despite these encouraging developments, Pakistan faces several institutional and technical challenges before an operational ETS can be introduced. Reliable emissions inventories remain incomplete across many industrial sectors, while comprehensive Monitoring, Reporting and Verification systems are still evolving. Institutional responsibilities for climate policy, industrial regulation, energy management, and environmental protection remain fragmented across multiple federal and provincial agencies, requiring stronger coordination. Furthermore, many industries and institutions have limited experience with greenhouse gas accounting, carbon pricing & reporting, emissions verification that highlight the need for substantial technical capacity building. Nevertheless the opportunities created by ETS are significant, not only due to environmental benefits but formulates holistic markets that contribute to the world economy. Carbon market revenues have already crossed the threshold of almost US$30 billion in 2016 to over US$107 billion in 2025, representing the rapid and robust growth of climate finance and green investments worldwide. The European Union’s Carbon Border Adjustment Mechanism (CBAM) signals a new era where carbon compliance is becoming integral to international trade. Although Pakistan’s textile exports are not yet covered, global buyers increasingly demand transparent emissions reporting and low-carbon production. Developing an Emissions Trading System (ETS) and robust Monitoring, Reporting and Verification (MRV) systems will help Pakistani industries strengthen compliance and safeguard export competitiveness. Pakistan stands at a crossroads in its climate and economic development. With an estimated greenhouse gas emissions of around 500 million tonnes of CO2 equivalent (MtCO2e) per year, of which