ISLAMABAD, JUL 28 /DNA/ – The Privatisation Commission (PC) Board, chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, convened today to review and recommend key milestones in the Government’s privatisation agenda. The Board formally recommended that the Cabinet Committee on Privatisation (CCoP) approve the restructuring plans and schemes of arrangement for the privatisation of the first batch of power distribution companies (DISCOs): Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO).

The restructuring framework, developed using audited financial statements for the period ending March 31, 2026, is designed to balance value maximization for the Government of Pakistan with commercial viability to attract private sector investment. Under the proposed structure, a Government-owned Special Purpose Vehicle (SPV) will be established to carve out selected assets and liabilities of the three DISCOs. This mechanism aims to create a streamlined, efficient transaction structure that mitigates risks and enhances the appeal to prospective buyers.

Investor Interest and EOI Timeline
The Board was apprised of significant interest from both domestic and international investors in the privatisation of these entities. To maintain a transparent and competitive bidding process, the deadlines for submission of Expressions of Interest (EOIs) have been set as follows:

• FESCO: August 7, 2026
• GEPCO: August 21, 2026
• IESCO: September 7, 2026

In a separate agenda item, the Board constituted two Transaction Committees to oversee the outsourcing process for Islamabad, Lahore, and Karachi airports. The Asian Development Bank (ADB) has been appointed as Financial Adviser for the outsourcing of Islamabad International Airport, while the process for appointing Financial Advisers for Lahore and Karachi airports is currently underway.

To ensure financial accountability, the Board approved the appointment of RSM Avais Hyder Liaquat Nauman, Chartered Accountants, as auditors for privatisation transactions completed during the financial years 2024–25 to 2026–27. The firm will conduct separate audits of each completed transaction. Additionally, the annual audit of the Privatisation Commission’s financial statements for the financial years 2025–26 to 2027–28 will be carried out by BDO Ebrahim & Co., Chartered Accountants, which was appointed earlier through a competitive bidding process.

The Board reaffirmed its commitment to implementing the Government’s privatisation programme in a transparent, competitive, and professionally managed manner. The initiatives are aimed at promoting efficiency, attracting private investment, and maximising value for the Government and the people of Pakistan.

ISLAMABAD, JUL 28 /DNA/ – The National Academy of Higher Education (NAHE), Higher Education Commission (HEC), has launched the National Outreach Programme for university management staff at Quaid-i-Azam University (QAU), Islamabad.    

The training programme aims at strengthening the professional and managerial capacities of university management officers and staff. The comprehensive training programme covers a range of contemporary and practical themes, including Professional Communication and Office Procedures, Personal and Professional Development, Public Sector Project and Financial Governance, Strategic Planning and Policy Development for Institutional Growth, Artificial Intelligence (AI) for Workplace Efficiency and Smart Governance. 

The sessions are being facilitated by experienced faculty members, subject experts, and practitioners from academia and the public sector. Through interactive lectures, case studies, group activities, and practical exercises, participants are being provided with opportunities to enhance their professional skills.

The programme has attracted participants from various administrative and management cadres, creating a platform for knowledge sharing, networking, and exchange of best practices among them.

The training program will continue till August 3, 2026, and is expected to equip participants with practical tools, modern management approaches, and strategic insights to effectively contribute to the advancement of Pakistan’s higher education sector.

In his address, Director NAHE HEC Dr. Muneer Ahmed Mirjat, who was chief guest of the opening ceremony, emphasised the importance of creating an enabling environment for teachers and students. He stated that universities can transform our society and help in developing socio-economic activities in the country. He added that training will help in improving institutional performance, strengthening governance, and supporting the growth and development. He assured that NAHE will continue to extend high-quality professional development opportunities to higher education institutions across the country.

D-8 Secretary-General stresses private sector’s central role in enhancing intra-d-8 trade and accelerating economic integration

ISTANBUL, JUL 28 /DNA/ – The Secretary-General of the Developing-8 Organization for Economic Cooperation (D-8), Ambassador Sohail Mahmood, has called for stronger collaboration between governments and chambers of commerce, and stressed the central role of the private sector in realizing the Organization’s ambitious target of US$500 billion in intra-D-8 trade by 2030 and accelerating economic integration.

The Interactive Session on “Economic Integration among the Developing Eight: Current Status and Future Prospects,” organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), brought together representatives of national chambers of commerce, senior government officials, diplomats from D-8 Member States, business leaders, exporters, industrialists, and private-sector stakeholders. The Director-General from the Pakistan Ministry of Foreign Affairs, Mr. Irfan Soomro, also participated and shared detailed perspective on the subject.

Held in a hybrid format with both physical and virtual participation, the event served as an important platform to deliberate on practical measures for expanding intra-D-8 trade, enhancing investment cooperation, improving banking and financial connectivity, promoting business-to-business (B2B) engagement, and accelerating effective implementation of the D-8 Preferential Trade Agreement (PTA).

In his address on the occasion, delivered through a special video message, Secretary-General Ambassador Sohail Mahmood emphasized that the D-8’s economic potential can best be realized through stronger implementation of the D-8 PTA, deeper regional value chains, enhanced investment flows, and intensified private-sector engagement. He noted that the D-8 represents nearly 1.3 billion people, a combined GDP exceeding US$5 trillion, and intra-bloc trade of approximately US$160 billion. He stressed that the private sector had the most vital role to play in helping realize the Organization’s target of increasing intra-D-8 trade to US$500 billion by 2030 set in the D-8 Decennial Roadmap 2020-2030.

The Secretary-General welcomed recent progress in strengthening the D-8 trade architecture, including Egypt’s ratification and Pakistan’s operationalization of the D-8 PTA. He underscored that the chambers of commerce and the private sector remain indispensable in translating policy frameworks into tangible commercial outcomes through stronger business partnerships, raising awareness about possibilities under the PTA, and expanding opportunities for trade and investment. He also highlighted the Trade Ministers’ decision regarding establishment of the Permanent Secretariat of the D-8 Chamber of Commerce and Industry (D-8 CCI) in Istanbul, in collaboration with the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), as a major institutional milestone for advancing regional economic cooperation.

In his opening remarks, FPCCI President Mr. Atif Ikram Sheikh emphasized that the D-8 possesses enormous untapped economic potential that can only be realized through stronger institutional cooperation and greater private-sector participation. Calling for a more action-oriented D-8 economic agenda, he urged the immediate and effective implementation of the D-8 PTA and presented a number of practical proposals to strengthen regional business connectivity. These included organizing a D-8 CCI Expo under the auspices of FPCCI, convening at least two virtual meetings of the D-8 CCI each year, establishing a dedicated digital platform and website for the D-8 CCI to facilitate business networking and information-sharing, and further simplifying visa procedures for businesspersons to facilitate trade, investment, and commercial exchanges among D-8 Member States.

Chairing the session, FPCCI Senior Vice President Mr. Saquib Fayyaz Magoon reaffirmed the private sector’s readiness to play a leading role in advancing regional economic integration. Participants broadly supported stronger business-to-business engagement, enhanced banking and financial connectivity, regular trade fairs and investment forums, and closer cooperation among national chambers of commerce to unlock new opportunities for trade, investment, innovation, and joint ventures, particularly for small- and medium-sized enterprises (SMEs).

Reaffirming the Secretariat’s commitment to advancing the D-8 economic agenda, Secretary-General Ambassador Sohail Mahmood stated that the D-8 Secretariat would continue working closely with Member States, chambers of commerce, business associations, and all other relevant stakeholders. He underlined that achieving the set targets in trade and economic integration would require stronger political commitment, effective implementation of trade instruments, and, above all, active engagement of the private sector across the D-8 geography. It would also require enhanced customs cooperation, improved hard and soft connectivity, digital integration, and predictable cross-border and transit systems, he stressed.

The D-8 Secretariat welcomed FPCCI’s initiative in convening this timely dialogue and its concrete recommendations for advancing economic integration among D-8 Member States. The Secretariat expressed confidence that the proposals emerging from the session would provide valuable impetus for strengthening the implementation of the D-8 economic cooperation agenda and contribute meaningfully to the realization of the D-8 Decennial Roadmap (2020–2030), reinforcing the Organization’s role as a leading platform for South-South economic cooperation.

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday instructed authorities to expand Pakistan’s strategic petroleum reserves, calling refinery upgradation a “key pillar of Pakistan’s comprehensive energy security system”.

The premier made the remarks while chairing a meeting of the Cabinet Committee on Energy at the Prime Minister’s Office, where the proposed amendments to the Pakistan Oil Refining Policy, 2023, were approved, according to a statement issued by the PM Office.

During the meeting, PM Shehbaz said that the upgradation of oil refineries is an important need of the time, stressing that refineries aligned with modern requirements will not only better meet the country’s energy needs but will also prove helpful in reducing dependence on imported fuel and providing environment-friendly fuel.

It was said during the meeting that upgrading existing refineries was inevitable to increase their production capacity.

The production of fuel meeting Euro-4 and Euro-5 standards was termed essential for fulfilling Pakistan’s international environmental commitments, reducing air pollution, and providing better-quality fuel to the public.

PM Shehbaz directed that reforms be introduced to improve the Oil and Gas Regulatory Authority’s (Ogra) performance to promote competition, transparency, and investment in the energy sector.

He emphasised that effective and timely implementation of the new policy must be ensured, saying no negligence or delay in this regard will be tolerated under any circumstances.

The prime minister directed relevant ministries and institutions to expedite the reform process while maintaining close contact with all stakeholders.

He affirmed that the government will continue to take all possible measures to introduce sustainable reforms in the energy sector, promote modern technology, and provide a conducive environment for investment.

To promote the amended policy regarding brownfield refineries, the premier directed that roadshows be held in Qatar, Saudi Arabia, and other Gulf countries.

PM Shehbaz appreciated the petroleum minister and his team’s performance over the amendment to the refining policy on brownfield refineries.

The meeting was given a detailed briefing on the progress of upgradation of oil refineries in the country, reforms in the energy sector, and implementation of the policy.

The meeting was informed that the amendments made to the policy aimed to ensure the production of environment-friendly petrol and diesel compliant with Euro-V standards and to reduce furnace oil and low-quality petroleum products.

Federal ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, Ahsan Iqbal, relevant federal secretaries, and senior government officials attended the meeting.

MUZAFFARABAD: Pakistan Muslim League-Nawaz (PML-N) secured victory in nine constituencies in the first phase of the Azad Jammu and Kashmir (AJK) Legislative Assembly elections, according to unofficial and provisional results.

Polling was held on Monday across all 13 constituencies in Mirpur, Kotli and Bhimber districts. Voting officially ended at 5pm, with an additional hour allowed for voters already present at polling stations before counting began.

According to the unofficial results, the PML-N won nine seats, while the Pakistan Peoples Party (PPP) has secured four.

According to the unofficial and provisional results, the PML-N won LA-1 Mirpur-1, LA-4 Mirpur-4, LA-5 Bhimber-1, LA-6 Bhimber-2, LA-7 Bhimber-3, LA-9 Kotli-2, LA-11 Kotli-4, LA-12 Kotli-5 and LA-13 Kotli-6.

The PPP won LA-2 Mirpur-2, LA-3 Mirpur-3, LA-8 Kotli-1 and LA-10 Kotli-3.

In LA-1 Mirpur-1, PML-N candidate Azhar Sadiq won with 15,427 votes, defeating PPP’s Muhammad Afser Shahid, who secured 9,832 votes.

In LA-2 Mirpur-2, PPP’s Qasim Majeed was declared successful with 12,904 votes, while PML-N’s Azeem Bakhsh Chaudhry finished second with 8,182 votes.

PPP candidate Chaudhry Yasir Sultan won LA-3 Mirpur-3 with 11,676 votes, ahead of PML-N’s Chaudhry Muhammad Saeed, who received 9,832 votes.

In LA-4 Mirpur-4, PML-N’s Chaudhry Rukhsar Ahmed secured victory with 20,172 votes, while PPP’s Chaudhry Sohaib Arshad obtained 13,865 votes.

PML-N candidate Waqar Ahmed Noor won LA-5 Bhimber-1 with 30,259 votes, defeating PPP’s Chaudhry Pervaiz Ashraf, who received 29,574 votes, by nearly 700 votes.

According to the unofficial and provisional results from all 195 polling stations in LA-6 Bhimber-2, PML-N candidate Chaudhry Muhammad Razaq won the seat with 32,732 votes, while Istehkam-e-Pakistan Party (IPP) candidate Ali Shan Chaudhry finished second with 26,718 votes.

In LA-7 Bhimber-3, PML-N’s Chaudhry Tariq Farooq secured 35,490 votes to defeat independent candidate Chaudhry Anwar-ul-Haq, who polled 25,100 votes.

PPP’s Zafar Iqbal Malik won LA-8 Kotli-1 with 19,535 votes, while PML-N’s Malik Muhammad Nawaz Khan came second with 11,966 votes.

In LA-9 Kotli-2, PML-N’s Umair Naeem was declared successful after securing 31,080 votes, ahead of PPP’s Javed Iqbal Budhanvi, who received 28,509 votes.

According to the unofficial and provisional results from all 169 polling stations in LA-10 Kotli-3, PPP candidate Chaudhry Muhammad Yasin won the seat with 12,431 votes, while PML-N candidate Fateh Mehmood-ul-Hassan finished second with 9,245 votes.

PML-N candidate Muhammad Asif won LA-11 Kotli-4 with 26,190 votes, defeating PPP’s Chaudhry Muhammad Akhlaq, who secured 21,751 votes.

In LA-12 Kotli-5, PML-N’s Muhammad Riasat Khan secured 35,168 votes to defeat PPP’s Chaudhry Muhammad Yasin, who received 30,320 votes.

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PML-N’s Raja Ayaz Ahmed Khan won LA-13 Kotli-6 with 21,856 votes, while Istehkam-e-Pakistan Party (IPP) candidate Nisar Ansar Abdali finished second with 15,859 votes.

Rana Sanaullah, adviser to the prime minister on political affairs, said that the PML-N had won nine of the 13 seats, while the PPP secured four seats. He congratulated all the successful candidates on their victories.

He said the entire administration across Mirpur Division had worked hard to make the necessary arrangements for the elections.

Referring to security incidents, Sanaullah said a dispute between members of the same family led to a firing incident at one location, while another untoward incident occurred in Nakyal, where one person was killed.

He added that six people had been arrested in connection with the murder case.

Sanaullah said that no other untoward incidents were reported apart from the one in Nakyal. He alleged that a candidate in LA-6 personally went to a polling station and removed ballot boxes.

He maintained that, overall, the elections were free and fair. He also said the administration had registered a case against the candidate involved in the LA-6 incident and had arrested him.

Staff Report

MUZAFFARABAD: Chairman of the Pakistan People’s Party (PPP) Bilawal Bhutto Zardari has accused the state of openly patronizing the Pakistan Muslim League-Nawaz (PML-N) in the recent Azad Jammu and Kashmir (AJK) elections, alleging massive rigging and manipulation of results.

Addressing a rally in Muzaffarabad, Bilawal questioned whether the state considered the PML-N more important than the people of Pakistan, warning that such favoritism undermines democracy and fuels resentment among Kashmiris.

Bilawal claimed that the elections were rigged on a scale that cannot be ignored, describing it as a “conspiracy against the Kashmiri people.” He argued that it was impossible for a PPP candidate to win in one constituency but lose in his own hometown, calling the outcome a clear indication of manipulation.

He said the PPP had remained silent in the past in the interest of national unity, but there was a limit to such silence when the will of the people was being blatantly disregarded.

The PPP leader further remarked that rigging is an old phenomenon in Pakistan, but this time it was confined specifically to AJK, where the scale of manipulation was unprecedented. He indirectly supported the AJK Banned Committee, criticizing the state’s handling of protests and unrest.

Bilawal also addressed the controversy surrounding the 12 seats reserved for Mohajirs, saying that a middle ground could have been found instead of resorting to force. “There was absolutely no need for 14 days of misery inflicted on the Kashmiri people,” he said, adding that the use of force created unnecessary friction and worsened the situation. He suggested that a Truth and Reconciliation Commission should have been formed to deal with the grievances of the protesting people, which could have saved many lives.

He lamented that both the state and protestors refused to step back, resulting in innocent lives being lost. “In this strife, innocent people are being killed. Without peace, elections in AJK are not possible,” Bilawal warned, stressing that reconciliation and dialogue were the only way forward.

Bilawal’s fiery speech reflects growing frustration within the PPP over what it sees as systematic efforts to sideline the party in AJK politics. His remarks also highlight the broader challenge of ensuring free and fair elections in the region, where political tensions, ethnic divisions, and security concerns often overshadow democratic processes.

The PPP chairman’s call for accountability and reconciliation underscores the urgency of addressing the grievances of the Kashmiri people. His criticism of the state’s approach—favoring one party, using force against protestors, and ignoring the need for dialogue—resonated strongly with the crowd in Muzaffarabad.