The Hindu National
중도 성향
기타
D.K. Shivakumar with a Modi-style playbook?
Both the leaders have also paid attention to personal branding through distinctive attire and visual presentation
"DISTINCT" · 총 94건
필터 보기현재 지수
50.3
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 88,498건을 분석한 결과, 뉴스 심리지수는 50.2(균형)입니다. 긍정 4,312건(4.9%)·중립 82,032건(92.7%)·부정 2,154건(2.4%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 14.9(중도 균형)입니다.
Both the leaders have also paid attention to personal branding through distinctive attire and visual presentation
Chief Justice Surya Kant’s “cockroaches” remark from the bench on May 15, and the clarification that followed, have revived a question the Supreme Court has tried to settle twice; the Constitution does not regulate casual judicial speech; the standard the Court has set out asks the public to read bench remarks as distinct from the formal opinion, and asks judges to keep that distinction from collapsing
“THOSE who gorge themselves on usury behave but as he might behave whom Satan has confounded with his touch; for they say, ‘Buying and selling is but a kind of usury’ — the while God has made buying and selling lawful and usury unlawful. … If, however, [the debtor] is in straitened circumstances, [grant him] a delay until a time of ease… .” — Surah Al-Baqarah, translation by Muhammad Asad. Islamic banking started in Pakistan in 1979 and by 1985, commercial banks had stopped using the word ‘interest’ and used ‘mark-up’ instead. But with time it was apparent this kind of ‘Islamic’ banking wasn’t really Islamic and was just a name change from ‘interest’ to ‘mark-up’. Pakistan’s modern Islamic banking began in 2002 when the first new fully Islamic bank started working. Since then Islamic banking has rapidly grown and now there are many Islamic banks. Islamic banks have turned out to be more profitable and there is considerable demand among Pakistanis to conduct their banking as prescribed by Islam. Islamic banks now have Sharia boards that rule whether any banking facility is Sharia-compatible and the State Bank of Pakistan (SBP) also has a Sharia advisory committee. We have also progressed from merely banking and now the government issues sukuks (long-term bonds backed by assets), we have Islamic leasing, called Ijara, and Islamic insurance, called Takaful. We should examine how close to Quranic edicts is Islamic banking. Next year as we celebrate the silver jubilee of the Islamic banking industry, we should examine how close to Quranic edicts is Islamic banking and whether it has grown closer to Islamic ideals. A company can borrow from a secular commercial bank running finance for its working capital needs and long-term finance for its project financing needs. From the Islamic bank it will get Musharakah financing or Murabaha and Istisna financing. For an example of Istisna financing assume a company wants a loan for buying cotton. The bank will buy cotton for Rs10 million and sell it to the company for Rs11m with payment due in one year, or for Rs10.5m for payment due in six months. The bank doesn’t actually buy the cotton or sell it to the company. There is, however, paperwork to pretend this has taken place. The profit the bank makes depends entirely on the policy rate set by the SBP. When the policy rate is high, the bank’s profit is also equally high. In Musharakah financing, the profit an Islamic bank charges the company also depends on the SBP’s policy rate. Typically, if the interest rate charged by commercial banks is two per cent above the SBP’s policy rate, the profit rate required by Islamic banks is also the same. If during the tenor of the loan the policy rate is increased by the SBP, the profit rate is increased by Islamic banks by a similar amount. Just as commercial banks get their interest from the client whether the company is incurring a profit or a loss, Islamic banks also have no downside when a client loses money. Except for default or restructuring, no Islamic bank has ever made a loss because its borrower was losing money. This then seems distinct from trade-based, risk-assuming lending that Islam envisions. For instance, a priori people would think that under Islamic banking’s Istisna financing if a company borrows money for buying 1,000 bales of cotton, it should return the money for a 1,000 bales of cotton, no matter what the new price of cotton is. If the value of cotton has increased, the bank will make a profit and if it has decreased, it will lose. But it will not get a fixed interest-based ‘profit’ no matter what happens to cotton prices. Similarly, under Musharakah financing people would think that if the company is making profits, Islamic banks should also make a profit but not if it’s losing money. Otherwise, it is just like secular banks with Arabic names for loans. With the current practice of Pakistani Islamic banks, the benefits of having trade-based Islamic banking are lost and banks don’t have an incentive to seek and give loans to companies that have great ideas and products. If the profit is fixed at exactly the rate of interest, like it is in commercial banks, then we lose the barkat of Islamic banking. Up until last year, the SBP required banks to give a minimum interest to depositors. But Islamic banks objected that giving fixed profits to depositors would violate Islamic principles. However, the same Islamic banks are quite happy to charge their customers fixed profits based on the SBP’s policy rate. This dichotomy meant that customers of Islamic banks were getting less profits on their deposits than those given by commercial banks even as Islamic banks made more profits than others. Islamic banks were increasing people’s cost for being good Muslims. Even today, Islamic banks give lower profits to their depositors. This goes against the Islamic admonition of exploitation. When a borrower is late in paying loans or interest/ profit, both Islamic and commercial banks charge you penal interest (which is against the ayat I quoted above) but whereas commercial banks keep this profit, Islamic banks give up that profit as charity. One has to say that the difference between Islamic and commercial banks is more in nomenclature and less in substance. Bankers and economists know this but don’t say it in the hope that Islamic banks will eventually inch closer to true Islamic banking. However, it is unfortunate that even after decades this migration is non-existent. Perhaps it’s because ‘Islamic’ banks are more profitable and don’t want to exit a comfortable business model. Islamic bankers give the example of eating beef to justify Islamic banks. They say if you eat non-zabiha beef it is wrong but the same beef is halal if slaughtered properly. The example is powerful but not applicable as Islam has not prohibited eating beef, it has just prescribed a way of slaughtering cattle. The prohibition of interest is more like the prohibition of drinking wine. It doesn’t matter whether it is consumed out of a teacup or a wineglass; the prohibition stays. Similarly, while trade is allowed in Islam, interest is prohibited even if you give it Arabic names. We must endeavour to bring Islamic banking closer to the tenets of Islam — variable profits and risk sharing. The writer is a former finance minister. Published in Dawn, June 6th, 2026
The rare albino buffalo's distinctive blond coiffure has turned it into one of Dhaka's most talked-about attractions.
The convergence of these two distinct eras offers a fascinating study in India's democratic evolution
The Fifth Amendment says the government can’t take your property for public use without paying you for it. It doesn’t say the government can’t destroy your property’s value, a very different thing. That distinction has cost property owners billions of dollars they’ll never recover. James Madison wrote that government is instituted to protect property of […]
[Capital FM] Nairobi -- Kenya's healthcare financing challenge is increasingly being shaped by the needs of school-going children and older adults, with new expert views suggesting that healthcare products and coverage models have not kept pace with the distinct risks facing the country's youngest and oldest populations.
A small lamb doll dressed in colorful Xinjiang-style attire has become one of China's hottest cultural products this summer, winning over social media users nationwide with its distinctive look and handcrafted charm.
As India sees incessant FII selloff so far this year, the government and RBI announced a slew of measures to ease foreign investments in government securities, with analysts suggesting that these may provide some short-term support for Dalal Street.India scrapped the long-term capital gains tax on investments by foreign institutional investors (FIIs) in government securities through an ordinance issued on Friday. The government has now exempted FIIs from tax on any interest income from government securities, as well as capital gains arising from their sale, exchange or transfer, according to an official gazette. Separately, while announcing the outcome of the MPC meeting, RBI Governor Sanjay Malhotra also unveiled a series of measures to boost FPI investments, including expanding the Fully Accessible Route (FAR) to cover new issuances of 15-, 30- and 40-year government bonds.Limits on investments by NRIs and OCIs in equity instruments without Sebi registration are being raised, allowing them to invest larger amounts without regulatory registration. The facility is also proposed to be extended to all Persons Resident Outside India (PROIs), bringing them on par with NRIs and OCIs. This came as the RBI kept the repo rate unchanged at 5.25%What does this mean for Indian stock market?The proposal to increase investment limits for NRIs and OCIs in listed equity instruments without Sebi registration, and to extend the same facility to all individual Persons Resident Outside India (PROIs), is a significant step toward broadening participation in Indian capital markets, which is expected to improve market depth, liquidity and long-term capital inflows, said Arun Poddar, CEO of Choice International.He highlighted that equally important is the removal of capital gains tax on government securities investments for foreign investors. “This move strengthens the attractiveness of India's bond market and could encourage greater foreign participation in government debt. At a time of heightened global volatility, these measures reinforce investor confidence, support capital inflows, and reaffirm India's commitment to building deeper, more globally integrated financial markets, with the policy rate expected to remain low for an extended period,” he said.The government's move to exempt Foreign Institutional Investors (FIIs) from capital gains tax on any interest earned from government securities is “highly positive” for the capital markets, said Sumit Singhania, Head of Research at Bajaj Broking. “This fiscal cushion arrives at a crucial time, offering a strong shield to domestic markets as the RBI chief warned of volatile forex markets driven by shifting global sentiments,” he added.The policy is distinctly positive for bond markets and well-capitalized Banks and NBFCs, which benefit from targeted hedging subsidies and systemic stability, according to Archit Doshi, Senior Vice President at PL (Prabhudas Lilladher) AMC. “Conversely, one should be underweight rate-sensitive sectors, which remain highly vulnerable to margin compression, higher inflation expectations, and the threat of the RBI reaching its tightening tipping point,” he said.Rajeev Radhakrishnan, CFA, CIO of Fixed Income at SBI Mutual Fund, also said that the announcements aimed at enabling more dollar inflows are more significant in the near term, even though the overall policy stance has been broadly in line with expectations. “The concessional swap facility should help stabilise short end market rates and the foreign exchange market in the near term,” he said.For equities and debt markets, the measures to attract FII inflows are supportive of liquidity and inflows, while for the rupee, they signal a clear intent to anchor expectations and reduce volatility amid global oil shocks and sustained foreign selling pressure, said Ajit Mishra, Senior VP of Research at Religare Broking.Sachin Bajaj, Chief Investment Officer at Axis Max Life Insurance, also said that the initiatives are expected to support capital inflows, deepen domestic bond markets, and provide support to the Indian rupee over the short to medium term.RBI’s hawkish tone and the Indian stock marketWhile the measures taken to attract FII inflows in the debt market will likely provide short-term support for Dalal Street, analysts advised caution over the RBI’s hawkish policy stance. While the RBI maintained its policy repo rate as per expectations, the tone was much more cautious than in previous meetings.Sachin Bajaj highlighted that the policy emphasised preserving macroeconomic stability amid the prevailing global macroeconomic environment. “We believe there are significant risks to inflation in the coming months due to the pass-through of higher commodity prices to consumers and elevated food prices resulting from a below-normal monsoon. Going forward, there is a risk of an upward revision in inflation projections, and given the evolving global backdrop, we believe the RBI is likely to maintain a prudent, data-dependent approach. Future policy actions will be contingent on evolving growth-inflation dynamics and global developments,” he added.Also read: Explained: Sebi's Rs 15.15 lakh crore revenue inflation allegations against Rajesh ExportsWhile hawkish rhetoric without an accompanying rate hike provides a temporary respite for equity markets, it does not constitute an unequivocal endorsement of investment, particularly in highly rate-sensitive sectors such as real estate, automotive, and consumer discretionary goods, said Vipul Bhowar, Senior Director, Head of Equities at Waterfield Advisors.“Should inflation necessitate a rate increase later this year, these sectors are likely to experience pressure on both margins and demand. For investors, the current strategy emphasises capital preservation by focusing on high-quality equities with strong pricing power. This cautious approach is designed to navigate the prevailing geopolitical uncertainties until conditions stabilise,” the analyst added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Faceless figures swim together in a big universal pool, walk toward a giant yellow moon and drift across evening skies in Katherine Bradford’s dreamlike paintings. The American artist’s first solo exhibition in Korea, “Living a Dream,” brings around 20 recent works to Gallery Hyundai through July 12. The exhibition introduces Bradford’s distinctive visual language shaped by recurring motifs such as mothers, superheroes and figures in water. Notable featured works include “Mothers Group,” “Sleep
• Field officers to lose powers to issue notices, conduct audits • Reforms aim to curb collusion, harassment • Phased rollout planned from October ISLAMABAD: The government has approved in principle a plan to introduce a centralised digital tax operating model, under which audits and assessments would be handled by “faceless” wings in Islamabad to reduce official discretion and direct contact between tax officials and taxpayers. Prime Minister Shehbaz Sharif approved Pakistan’s New Tax Operating Model on Thursday and commended the tax officials who developed the plan. The model is scheduled for a three-phase rollout beginning in October this year. The centralised and faceless tax model is similar to systems used in the UK, Australia, the Netherlands, Singapore and India. It is designed to eliminate physical contact between tax authorities and taxpayers to prevent corruption. The reforms have been driven by systemic leakages and widespread under-reporting detected by Pakistan Revenue Automation Limited (PRAL). Officials said the reforms were not only about curbing collusion or corruption but also about improving weak enforcement. FBR data revealed a major discrepancy in tax compliance: 8,697 individuals holding a combined Rs750 billion in bank deposits officially reported zero income in their tax returns. The same pattern was found across the financial sector, where 98.9 per cent of high-deposit individuals were found to have materially under-reported their bank flows. The real estate sector also showed similar evasion patterns. Despite maintaining active filer status, 80pc of top property purchasers were found to have systematically under-declared their transaction values to avoid their actual fiscal obligations. At present, a single tax official within a Regional Tax Office, Large Taxpayers Office or Corporate Tax Office handles the entire tax cycle — from identification and notice issuance to assessment and recovery. Officials said this concentration of duties granted immense discretionary powers, creating opportunities for taxpayer harassment, under-assessment and compromised recoveries. To address this, the new model introduces separate audit and assessment wings, both operating virtually and facelessly from a centralised hub in Islamabad. Under the proposed plan, Inland Revenue operations will be restructured into three functionally separate wings, each operating with a defined mandate, distinct statutory powers and non-overlapping responsibilities. The new framework will apply uniformly across income tax, sales tax and federal excise duty. The National Faceless Audit Wing (NFAW) will be established in Islamabad and operate from an undisclosed location. This centralised, fully digital and anonymous wing will conduct risk-based audits and continuous monitoring of withholding and advance taxes through a Central Data Hub. Case allocation will be algorithmic, and the wing will have no powers to issue demands or execute recoveries. It will be able to handle any taxpayer across the country. Taxpayers will not be allowed to visit the NFAW or submit manual documents. The National Assessment Wing (NAW), also based in Islamabad, will handle quasi-judicial functions. The anonymous and digital NAW will process assessment orders, show-cause notices, zero-rating refund approvals and exemptions, but will have no mandate for audits or field enforcement. Hearings will be held online, while dedicated hearing rooms will be established at tax offices across the country. The third wing, the Field Operation Wing, will serve as the enforcement arm of the system. It will be responsible for revenue recovery, prosecution, taxpayer registration, field verification and expansion of the tax base, but will have no authority to assess, adjudicate or modify tax demands. Field officers will now focus on data verification, assigned information, taxpayer facilitation and registration. For the first two wings, the government will post around 200 officers strictly on merit, with market-based salaries and enhanced surveillance to ensure credibility, transparency and accountability. The proposed reform is expected to tighten the net around tax evaders while reducing the compliance burden on honest taxpayers. This will be achieved mainly by eliminating officer-dependent compliance, as all interactions will be digitally logged through an online portal, ending direct contact with tax officials. To simplify filing, taxpayers will receive pre-populated returns powered by the Central Data Hub, which will automatically pull salary, banking, property and vehicle data to reduce filing time from hours to minutes. A single integrated taxpayer account will consolidate all income tax, sales tax and federal excise duty obligations, credits and refunds into a unified IRIS view. The updated system will also introduce predictable, time-bound processing with auto-escalation features to give taxpayers certainty on contingent liabilities. The FBR will also retain the authority to independently transition tax appeals into a faceless, phased format. Published in Dawn, June 5th, 2026
The proposed rights are intended to be 'distinct and different' from those of married people, to help 'preserve the sanctity of marriage', according to the Government.
The Foreign Office (FO) on Thursday refuted reports that Deputy Prime Minister and Foreign Minister Ishaq Dar shared any intelligence regarding Iran’s nuclear programme during a meeting with United States Secretary of State Marco Rubio. Dar met with Rubio on May 29 during a brief visit to Washington, where the two discussed bilateral cooperation as well as regional security issues. Rubio had praised Islamabad’s role “in advancing peace in the Middle East”. Responding to queries during a weekly press briefing on Thursday, FO Spokesperson Tahir Andrabi said Islamabad “categorically and unequivocally” rejected claims made in certain media reports that Dar shared any intelligence regarding Iran with Rubio. “Such claims are entirely baseless, speculative, and appear to be aimed at undermining ongoing diplomatic efforts and the broader process of dialogue and engagement,” he said. Emphasising that the discussion between Dar and Rubio “focused on regional peace, stability, and the importance of pursuing diplomatic solutions to ongoing challenges”, Andrabi asserted that “no intelligence was shared during the course of this dialogue”. Welcoming the “continued engagement” of the US in peace efforts and its “positive role” in the ceasefire between Israel and Lebanon, he cautioned the media against “speculative and unwarranted reports”. A journalist had asked Andrabi about media reports that Dar had allegedly shared intelligence with Rubio regarding Iran, “including possible signals such as withdrawal from the NPT and the development of a nuclear weapon”. The reports, according to the journalist, had claimed that the information resulted in the US urging Israel to halt its attacks in Lebanon. The question came after former Central Intelligence Agency (CIA) analyst Larry Johnson, quoting an unnamed source, claimed that Dar had a conversation with Rubio that “revealed what Iran is prepared to do to preserve its independence”, which allegedly “alarmed” Rubio. Rubio had also responded to the claims during a congressional hearing on Wednesday. US Congressman Scott Perry asked him if Dar had delivered a message that Iran is “prepared to demonstrate a nuclear weapon should the current escalation continue”. “I have not seen that reporting and I am not aware of any such message,” Rubio responded. Perry again referred to the reports, to which Rubio said that no such message had been delivered. “I would be surprised if that message had been relayed. I would be aware of it if it was,” he said. The US-Iran conflict is currently stalemated in a shaky ceasefire struck in April, which was followed by historic direct talks between the warring parties hosted by Pakistan. Though daily strikes throughout Iran and the Gulf have stopped since then, bursts of armed conflict have continued. The US and Iran exchanged attacks on each other’s military targets on Monday. After the US military carried out strikes near the Strait of Hormuz, Iran responded with a missile attack on Wednesday, damaging Kuwait’s airport and resulting in casualties. Since the conflict began, Iran has repeatedly attacked targets in the Gulf region home to US military bases. Meanwhile, Israel’s expanding front in Lebanon has proved to be the main spoiler in the peace process, with rising tensions even prompting US President Donald Trump to tell Israel’s PM Benjamin Netanyahu to halt the attacks. Nevertheless, diplomacy has continued with Trump under pressure to reach an agreement that would lift the US and Iranian competing blockades around the Strait of Hormuz, which have choked international oil supplies and threatened the global economy with rising prices. ‘Actively engaged’ to secure release of seamen held by Somali pirates On the continued captivity of 10 Pakistanis aboard an oil tanker seized by Somali pirates, the FO said Islamabad remained “actively engaged” in efforts to secure their release. The MT Honour 25, a Palau-flagged product tanker, was seized on April 21, approximately 30 nautical miles off Somalia’s Puntland region with 17 crew members aboard, 10 of them Pakistani. “Unfortunately, the situation remains grave,” Andrabi acknowledged when asked about the latest update on the situation, days after a video emerged showing the captives with discoloured water available for drinking. “Pakistan remains in contact with the ship owner, who is the principal negotiator with the pirates. These negotiations have been taking place with the knowledge of the Somali government,” the FO spokesperson stated. He explained that the “geographical circumstances, coupled with the fact that the ship is carrying highly explosive cargo, make any law-enforcement operation to secure the release of the captive extremely difficult”, as Pakistan did not want to endanger the safety of the captives. Families of the Pakistani hostage crew members of an oil tanker that was hijacked by pirates off the coast of Somalia, hold placards during a protest, calling on the government to take immediate action for the safe return of their loved ones, in Karachi on May 13, 2026. — Reuters/File The FO urged both the Somali government and the ship owner to ensure that the hostages were provided with food, drinking water, and other basic necessities. Relevant stakeholders, including the interior and maritime affairs ministries, were involved in the matter. “This is a very difficult situation. Our hearts go out to the families of those being held captive,” the spokesperson said, requesting patience from the families. “A team from our Embassy in Djibouti also visited Mogadishu to obtain first-hand information. Therefore, all channels of communication with both the ship owner and the Somali government remain open and active,” he revealed. Andrabi assured the media of the government’s “full attention and concern regarding this emergency situation”. ‘No responsible state can remain passive’: FO on Afghanistan Pakistan’s tensions with Afghanistan also came up during the press briefing. Andrabi was asked about the European Union’s (EU) top diplomat Kaja Kallas noting the “grave humanitarian consequences” of the recent fighting between the two neighbours and urging them to exercise restraint. The FO spokesperson replied: “No responsible state can remain passive when its civilians and security forces are repeatedly targeted. Therefore, we reserve the right to take all necessary measures to safeguard the lives and property of our nationals, based on the principles of necessity and as a measure of last resort.” He stressed that Pakistan adhered to the principles of distinction and proportionality and that any “defensive action” was directed against “legitimate targets under international law, including sanctuaries and bases used for planning terrorism and launching terrorist attacks against Pakistan”. The FO spokesperson further stated, “We will continue to take such actions when necessary, and this remains part of our dialogue with our international interlocutors.” Responding to another question before this, Andrabi had asserted that the EU understood Islamabad’s position, including “our right to defend ourselves and take action against terrorist incidents, particularly those emanating from Afghanistan”. Andrabi then referred to the joint statement issued on Kallas’s visit, which said both sides “reaffirmed the importance of combatting terrorism in all its forms and manifestations”. Both sides had also “expressed serious concerns over the presence of terrorist entities in Afghanistan and reiterated that Afghan territory must not be used to threaten or attack other countries”. Replying to another question, the FO official affirmed that there was “no bar on Pakistan pursuing dialogue and diplomacy with Afghanistan”. “Indeed, this is what we were doing until very recently, when terrorist attacks emanating from Afghanistan, with possible collusion from elements within the authorities there, surpassed a certain threshold of Pakistan’s patience. As a result, there were instances of border closures, and we also took certain actions in our border regions,” he recalled. Expressing Pakistan’s desire to pursue the path of diplomacy but also voicing its strong objection to the killing of Pakistani civilians and members of law enforcement agencies, Andrabi said: “We have adopted a position whereby we seek an unequivocal commitment from the Afghan side that its territory will not be used for terrorism against Pakistan.” The FO spokesperson said China’s Special Representative on Afghanistan Ambassador Yue Xiaoyong “held productive discussions on regional security” during his visit to Islamabad. “Pakistan and China agreed to strengthen coordination and synchronise their counterterrorism efforts in order to protect regional peace and security,” he said, adding that Islamabad appreciated Beijing’s constructive role on security issues in general. On the recent military cooperation agreement signed between Russia and Afghanistan, Andrabi responded, “The details are still being ascertained. At this stage, it would be premature to offer any comment on the matter.” India’s plans to divert Chenab water Meanwhile, the FO also denounced India’s plans to build a river-linking project to divert water from Chenab to the Beas river as a “grave violation” of the Indus Waters Treaty (IWT) and other international laws. Chenab forms at the confluence of the Chandra and Bhaga rivers in Lahaul and Spiti, Himachal Pradesh. The IWT, brokered by the World Bank in 1960, allocates the three western rivers — Indus, Jhelum and Chenab — to Pakistan, and the three eastern rivers — Ravi, Beas and Sutlej — to India. According to Indian news outlet CNBC TV18, India will begin work on the proposed “Link-3 Project”, located on Chenab in Himachal Pradesh, on August 1. The project aims to divert surplus water from the Chenab river to the Beas basin and is estimated to cost 26.2 billion Indian rupees, as per ANI. Responding to a query, Andrabi said, “Yes, we have seen this report as well as the public tendered document issued by the government of India that India has invited bids for the Chenab-Beas Link Tunnel project with the intention of transferring 1.9m acre feet of water annually from Chenab into the Beas system. “Such an inter-basin diversion of water of the Chenab into the Beas system constitutes a grave violation of not just the IWT but also of the laws of treaty, particularly the Vienna Convention on the Law of Treaties, as well as the broader framework of international water law, including the principles reflected in the 1977 UN convention on watercourses,” he added. The FO spokesperson also highlighted India’s planned “silt flushing” of the Salal Dam in occupied Kashmir’s Reasi district. “This is a deeply concerning development. It would provide water control capability that is not permissible under either the Indus Waters Treaty or the 1978 Salal agreement,” he pointed out. Andrabi noted that India had neither officially communicated nor shared any notice of these projects nor has it sought consultations in this regard. “These projects confirm that India seeks to weaponise water. This carries dangerous implications not only for Pakistan’s economy but also for regional stability and international peace and security,” he stressed. Emphasising that Pakistan had “exercised restraint and responsibility” and remained committed to dialogue, Andrabi warned, “However, any illegal action, any illegal measure to endanger Pakistan’s water, food and economic security, as well as the survival and well-being of its 250 million people, is unacceptable.” He stated that such actions amount to “further destabilisation of South Asia, with potential grave consequences” for the entire region. “Under IWT, Pakistan is entitled to receive the unrestricted use of the water of the western rivers, and this is in lieu of the rights of the eastern rivers that were given to India,” Andrabi noted. The FO spokesperson asserted that Pakistan “retains all options necessary for safeguarding rights and entitlements under the treaty and to protect its vital national interests”. “Let me emphasise, we retain all options in this regard,” he reiterated. The FO urged the international community to call upon India to “desist from any form of water coercion, abandon projects that seek to stop, reduce or divert water flow legally belonging to Pakistan, and restore full and faithful implementation of the IWT”.
DHAKA, Bangladesh — 4 June 2026, The Associated Press (AP) reports that a 700-kilogram albino buffalo has gone viral in the Bangladesh for its distinctive blond forelock, which resembles the hairstyle of U.S. President Donald Trump. The buffalo has become the newest star attraction at the Bangladesh National Zoo after being moved there last week. […] The post “Trump Buffalo” becomes star attraction at Bangladesh Zoo appeared first on Khaosod English.
A revelatory account of the life of George Forster, whose rejection of racial hierarchies stood out amongst his peers George Forster was 10 when he left his home in present-day Poland and travelled to Russia with his naturalist father. During the expedition, which began in 1765, Forster collected plant specimens and helped with botanical research. Wide-eyed, he journeyed along the Volga river, encountering Muslim Tartar traders and Cossack warriors. There were also the emaciated figures of German settlers, who lived in poverty under the territory’s despotic governor, their campsites little more than holes burrowed into the riverbanks. The experience of cultures so distinct from his own stirred a lifelong enthusiasm for travel and exploration in Forster. It also awakened his compassion for others – irrespective of culture and, especially, race. At a time when racism pervaded public opinion as well as the philosophical texts of luminaries such as Jean-Jacques Rousseau and Immanuel Kant, Forster moved brazenly to critique and correct them. How he was able to transcend the conventional beliefs of his day is the central question of Andrea Wulf’s new book – and the answer is in its title. Continue reading...
IN November 1970, the Bhola cyclone killed up to half a million people in East Pakistan. Yahya Khan’s government introduced a 10 per cent surcharge to fund emergency relief. Bangladesh became independent 13 months later. The affected territory was gone. The levy remained. Zulfikar Ali Bhutto’s government absorbed the revenue into general federal accounts in 1972. No accounting was published. In 1985, Gen Zia introduced the Iqra surcharge, framed as an education fund. The revenue balanced federal operating accounts. No alternative education instrument replaced it when it was abolished under the IMF’s insistence. The template was set. Fifty years later, Pakistan has not deviated from this template. What began as a cyclone surcharge is now a Rs1.55 trillion instrument misclassified as non-tax revenue. The architecture is identical but the scale has changed. Pakistan has pursued this through two parallel tracks. The first collected resources in the name of disaster relief, later rebranded as climate resilience as floods became more frequent. The second imposed non-tax revenue through petroleum pricing. The petroleum development levy (PDL), a general development surcharge dating to 1961, was structurally insulated in 2010 to bypass provincial NFC sharing. It grew steadily, crossing Rs100 billion annually by the mid-2010s and exceeding Rs200bn by FY2018-19. Although never formally framed as a climate instrument, it has acquired a distinct environmental gloss, culminating in the climate support levy of 2026. The flooding track: The 1973 floods wiped out three million houses and erased a year of economic growth. Bhutto created the Federal Flood Commission. Three consecutive 10-year national flood protection plans followed, running from 1978 to 2008 across four governments, each funded through the PSDP with no ring-fencing. Pakistan suffered catastrophic floods throughout. Three decades of federal plans, without a rupee ring-fenced. No relief fund has ever been legally ring-fenced. Since 1992, when Nawaz Sharif’s government first activated the prime minister’s relief fund model, Pakistan has deployed the same instrument at least five times across floods and earthquakes. The design is deliberate: by classifying flood revenue as voluntary donations rather than taxation, governments simultaneously escape parliamentary scrutiny, judicial challenge and NFC distribution requirements. Benazir Bhutto deployed the identical model after the 1994 floods. So did every government after 2010. The 2010 floods affected 20m people and caused $43bn in damages. The government announced a flood relief surcharge projecting Rs40bn, collected it, and absorbed it into the federal consolidated fund while simultaneously negotiating IMF targets. After the 2022 floods, the government quietly renamed its existing super tax: Section 4B, whose stated purpose was rehabilitation of temporarily displaced persons, became Section 4C, a super tax on high-earning persons. The humanitarian justification was dropped without explanation. The revenue mechanism stayed the same. Three findings hold across every instrument. No relief fund has ever been legally ring-fenced: every prime minister, president and chief minister relief fund is credited to the account of the federation, making it general government money. International pledges substitute for domestic accountability rather than supplementing it. And every fund since 2005 has carried a public commitment to publish an independent audit. None has been published. Justice Saqib Nisar’s 2018 dam fund collected Rs11.5bn from the public in the name of water security, earned Rs2.2bn in mark-up over six years, and was quietly transferred to the public account of the federation in 2024 without a single rupee spent on the stated objective. If money raised under the highest judicial authority in the country can still end up in the general budget, no argument remains that any executive fund can be trusted to do otherwise. The petroleum track: Climate change has been weaponised as a justification to tax citizens. Gen Musharraf used clean-fuel rhetoric to justify development surcharges during the CNG transition without a single rupee being traced to a cleaner fuel outcome. In 2009, the Supreme Court under chief justice Iftikhar Chaudhry ruled that revenue collected without a verifiable service to the payer is a tax, not a surcharge, and that imposing it by executive notification violates Article 77. The response was the Petroleum Products (Development Levy) Amendment Act, 2009, that satisfied the court’s procedural requirement while eliminating any ring-fencing obligation. The consequences are calculable. At Rs1.55tr, the PDL represents 10-11 per cent of total federal revenue. Under the seventh NFC Award, provinces are entitled to 57.5pc of all taxes. If correctly classified, Punjab would receive Rs461bn annually, Sindh Rs219bn, KP Rs13bn and Balochistan Rs81bn. They receive zero. It is a tax called a levy because of the NFC Award. The classification is deliberate. PML-N elevated PDL margins in 2016 on the justification that the premium would fund cleaner fuel production. The revenue went instead to IPP capacity charge payments and circular debt service, which reached Rs1.14tr by FY2017-18. The revenue collected in the name of cleaner fuel financed the liabilities of a fossil-fuel-dependent power grid. The PTI then scaled the PDL to Rs424bn, the highest in Pakistan’s history, while branding it a carbon instrument aligned with its Ten Billion Tree Tsunami project. In March 2022, it froze the levy at zero for political reasons. The IMF suspended a $1bn tranche within weeks. A climate-labelled levy had become a macroeconomic emergency. Across 23 programmes since 1958, the IMF has required Pakistan to enhance the PDL without requiring it to distribute the revenue constitutionally. The way forward: Can the PDL be ring-fenced or audited? Ring-fencing 15pc of PDL collections into a sovereign climate fund (SCF) would deploy Rs232bn annually, shared with provinces under the NFC Award and structured as a statutory trust. Following global benchmarks, it can leverage private investment at a ratio of one to four, unlocking approximately Rs900bn in total climate finance conditioned on climate resilience outcomes aligned with Pakistan’s commitments. The IMF objection is predictable but answerable. The SCF does not reduce total PDL collections. Tabled in the next programme negotiation as a structural benchmark rather than a provincial concession, the IMF’s incentives align with the reform rather than against it. The question is not whether Pakistan can create such a fund. It is whether any government is willing to surrender a revenue stream that it has prized too much to ring-fence. The writer is a climate expert. Published in Dawn, June 4th, 2026
‘In a really simple way, this photo captures that intense colour and joy of being at the seaside with your loved ones’ Our British seaside has such a distinctive look; the bingo halls, the buckets and spades and pinwheels, and all the amazing colours of the funfairs. I find them the most amazing environments. I love that visually super-charged, maximalist style. The seaside is nostalgic to all of us. My grandpa lived in Pembrokeshire and we’d go and see him when I was little. The beach provokes this childlike sense of wonderment. It is a space that anyone can be a part of, friends and family, whatever age, whatever background. It unlocks the connection to nature, which inspires freedom and fun. There are not really any rules, and it’s playful – the funfairs, the arcades, splashing in the water. We don’t have many outlets for play, especially as adults. Continue reading...
An investigation by Al Jazeera has identified 40 distinct Israeli military outposts entrenched within Gaza.
A rare albino buffalo fondly named after Donald Trump for its distinctive blond tuft is drawing a huge crowd at the national zoo in Bangladesh’s capital
A rare albino buffalo fondly named after Donald Trump for its distinctive blond tuft is drawing a huge crowd at the national zoo in Bangladesh’s capital