Friday, December 19, 2025
Home Blog

Allama Khadim Hussain Rizvi passes away in Lahore

By
Shafek Koreshe
-
0

ISLAMABAD, Nov 19 (APP): APP Digital NewsAllama Khadim Hussain Rizvi, the leader of Tehreek-e-Labbaik Pakistan breathed his last Thursday night at Lahore, his party announced. He was 55.

No reason for his death was given. His party officials said he was rushed to a hospital after he had problem breathing and had fever for past few days. However he was pronounced dead when he arrived at the hospital.

Senior TLP leader Syed Inayat-ul-Haq Shah also confirmed the news and asked the TLP workers to proceed to Lahore to participate in his last rites. The Tehreek-e-Labbaik announced that his funeral would be held on Saturday at 10 in the morning at Minar-e-Pakistan.

Videos on several social media accounts showed large number of his followers rushing to his home and crying over his sad demise.

The fire brand clerk was known for his protest marches, that often became violent and created law and order problems. His last protest was relatively shorter at Faizabad and ended only after a two day blockade of the twin cities on Monday.

Immediately after the confirmation of the news condolences poured in from all sections of society; including the Prime Minister, the Foreign Minister, Information Minister, Chief of Army Staff, Chief Minister Punjab and political leaders of many parties.

Prime Minister Imran Khan in a tweet expressed his grief over the sad demise of Allama Khadim Rizvi and conveyed condolences to his family.

Chief of Army Staff General Qamar Javed Bajwa also conveyed his condolences over the demise of the TLP leader.

 

Dr Firdous Ashiq Awan, Special Assistant to the Chief Minister on Information in Punjab also expressed grief over his sad demise.

Amir Jamat Islami also expressed his grief and prayed to Allah Almighty to bless the departed soul.

Prime Minister Imran Khan’s consistent stance on Kashmir

By
Shafek Koreshe
-
0

Prime Minister Imran Khan’s stance on Kashmir at international fora to highlight gruesome human rights violations by India

 

Indian media’s fake “civil war” in Pakistan, falls flat on face

By
Shafek Koreshe
-
0
APP Digital Small logo
By Shafek Koreshe

In an abortive attempt to create diversion from Narendra Modi’s human rights abuses in Kashmir, the Indian media went berserk by propagating fake news about a “civil war” like situation in Karachi, triggering a hilarious response from the twitterati in Pakistan, who enjoyed every bit of the ridiculous reports.

#CivilWarInPakistan and #KarachiCivilWar were in no time the top trends, with the young twitter users going crazy by posting video clips from action movies, comics, images of the Indian MiG pilot Abhinandan Varthaman, shot down by Pakistan Air Force inside Pakistan’s territory, as scenes from the Civil War, getting an equally enthusiastic response with numerous retweets and likes.

The arrest of PML-N leader Captain (Retd) Safdar on charges of political sloganeering at Quaid’s Mausoleum and leave applications by senior police officers was exploited by the top Indian news channels, who portrayed an administrative issue as a “civil war” and went to the extent of even reporting casualties, and armed clashes.

Indian Media ditches professionalism to dip at to its lowest 

#FakeNews CNN18News
#FakeNews CNN18News

The news reports were part of a persistent barrage of fake news from Indian mainstream media and its RAW controlled assets on social media over the past few months. The trend has witnessed a sharp spike as part of India’s fifth generation war (5GW) against Pakistan.

Pakistan’s Foreign Office on the “malicious and fabricated propaganda” by Indian mainstream and social media claiming civil unrest in Pakistan, said planting such baseless stories were reflective of the “Pakistan-obsessed BJP-RSS” mindset.

“Needless to say that Indian media continues to hit new lows,” he said, when asked to respond over the series of fake news flashed as breaking news across the Indian media about a “civil war in Pakistan”.

“Indian media continues to hit new lows”: FO

The Spokesperson said through “peddling fake news and running propaganda machinery”, India could not wash away the truth about its own gross and systematic human rights violations in Indian Ilelgally Occupied Jammu and Kashmir (IIOJK).

“Rather than reporting on humanitarian crisis in IIOJK, the Indian media chooses to spread fake and sensational news about Pakistan to detract from core issues,” he said.

5th Gen War – Twitterati bust RAW’s #Fake letter attributed to COAS

 

#FakeNews - Yet another figment of imagination of Indian Media
#FakeNews – Yet another figment of imagination of Indian Media

The Indian media tried hard to appease its own consumers and to create a diversion from its human rights abuses in occupied Kashmir. However in its abortive attempt it created history by churning out fake news overpowered by the anti-Pakistan hysteria, undermining its professional ethics and credibility.

#FakeNews - India Today with its concocted news story
#FakeNews – India Today with its concocted news story

The unleashing of the Indian media did not go unnoticed, as Michael Kugelman, deputy director at the @AsiaProgram and South Asia senior associate @TheWilsonCenter in a tweet pointed that the Indian disinformation accounts were exploiting Pakistan’s current political crisis, and “falsely claiming that the country is no experiencing urban warfare.”

He described the trend as “dangerous and disturbing”, as several of these accounts were verified and had huge followings.

Minister for Human Rights Dr Shireen Mazari said the Indian media was in “hyper drive with fake news on Pakistan” and regretted that it was “unfortunate that Twitter is [deliberately ignoring it].”

All major media outlets in so-called world’s biggest democracy decimated all journalistic norms as none bothered to fact-check such a huge gaffe. India’s News18, India Today, Zee News, India.com and several others quoted the International Herald which showed old videos of bomb explosions in Pakistan and portrayed it as the ongoing civil war.

#FakeNews - Indian International Herald tweet
#FakeNews – Indian International Herald tweet

The Institute of Policy Research in a report said their data indicates a pattern of Indian propaganda against Pakistan on digital media that grew exponentially after 2018 General Elections in #Pakistan. The propaganda hovers around largely 4 key themes.

IPRI Timeline of Indian Propaganda
IPRI Timeline of Indian Propaganda

Minister for Ports and Shipping pointed that the Indian propaganda was at its peak and “sadly fueled by the PDM Circus.” He said the food inflation was artificially manufactured, but was being brought under control.

Minister for Kashmir Affairs also lambasted the “fake, fabricated and malicious propaganda campaign to malign State institutions of Pakistan. He urged @Twitter to take action against Indian accounts for #FakeNews against Paksitan.

However, this idiocy of Indian media gave the Twitterati a perfect chance to enjoy as the microblogging site was flooded with messages to ridicule the Indian media’s insanity.

“Karachi civil war has gotten so bad that my food panda delivery boy had to crawl through mine fields carrying his AK47, RPG & 9mm along with my nihari and Biryani. This thing is getting so serious. Multiple cows have been killed & people are dying of over eating. #IndianMedia,” commented renowned singer Fakhr-e-Alam.

Besides numerous other fake photos, the Indian media also used an image of a building collapsed following a gas leakage blast in Karachi earlier in the day to substantiate its fake news of civil war.

“A little investigation would have informed Zee News that it wasn’t a bomb blast in ‘civil war’ in Pakistan but the result of a  gas leak in Karachi. Whither truth, objectivity, balance and fairness in reporting?,” said Farhatullah Babr, former senator of Pakistan Peoples Party which rules Sindh province.

“An Aircraft shot during civil war in Karachi… and the pilot captured…,” commented another Twitter user Fasihuddin while sharing the images of Indian aircraft MiG-21 and captured injured pilot Abhinandan following an aerial dogfight during India-Pakistan standoff in 2019.

One year after Bashar Al-Assad’s fall, Pakistan commends Syrian-led reforms amid challenges

By
NNPS Desk
-
0

UNITED NATIONS, Dec 19 (APP): Marking a year since the fall of the Assad regime in Syria, Pakistan has praised the country’s reforms amid the threat of terrorism and emphasized that its future must be guided by Syrians themselves.

“We note with appreciation the transitional steps undertaken by the Syrian Government over the past year, including the issuance of a constitutional declaration, the formation of a new cabinet, the conduct of legislative elections, and the convening of a National Dialogue Day,” Ambassador Usman Jadoon, deputy permanent representative of Pakistan to the UN, told the UN Security Council on Thursday.

Upholding the unity, sovereignty and territorial integrity of Syria, he emphasized that all state institutions and security structures operate under a single, central framework to prevent fragmentation and ensure effective governance, and encourage Syrian government’s efforts toward reintegrating armed factions under a unified command.

Referring to the treat of terrorism, the Pakistani envoy condemned the recent terrorist attack on a joint US-Syrian patrol in Palmyra and express deep condolences on the precious lives lost. Da’esh/ISIS remains a threat and must be decisively confronted. Similarly, addressing the presence of foreign terrorist fighters and advancing disarmament, demobilization and reintegration measures were critical to consolidate long-term security.

On the economic front, Ambassador Jadoon welcomed the lifting of sanctions by the United States and the European Union, alongside growing investment by regional countries including Saudi Arabia, Qatar and Turkiye.

Attention should now shift toward sustainable development and reconstruction for restoring livelihoods, rebuilding critical infrastructure, and enabling the people of Syria to regain a sense of normalcy after years of hardship, he said.

Despite Syria’s continued efforts to exercise restraint and pursue diplomatic avenues, repeated and blatant violations of Syria’s sovereignty by Israel undermine stability and risk further escalation, the Pakistani envoy said.

Condemning the attacks in Beit Jinn and occupation of the Syrian territory by Israel, Ambassador Jadoon said these actions were not only against international law but also run counter to peace efforts and must be stopped in accordance with UNSC resolutions.

Earlier, Joyce Msuya, Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator, commended Syrian-led strides, saying, “The hope that was kindled a year ago [in Syria] continues to radiate.”

“Vigorous and diligent international support remains vital” as Syria continues to navigate immense opportunities and complex challenges.”

Success will depend largely upon two related factors, she said: reducing humanitarian need — “in what has been, for more than a decade, one of the world’s largest humanitarian crises” — and scaling back the size of the UN’s humanitarian operations in the country. In that regard, she said her Office is developing a new cooperation framework with Syria, and that its work has already become more streamlined and efficient, reaching 25 per cent more people in 2025 than in 2024 despite cuts in funding.

Rosemary DiCarlo, Under-Secretary-General for Political and Peacebuilding Affairs, agreed that Syrians have made great progress in the last year. Meanwhile, the Syrian Government and the opposition Syrian Democratic Forces reached an agreement relating to the security and political transition on 10 March.

However, she warned: “Years of conflict and decades of repressive rule and human rights violations exacerbated tensions along sectarian lines.” Those tensions have also boiled over in the past year, with large-scale violence in the coastal region and clashes in the Druze-majority city of Swieda in July.

Condemning such acts, Ms. DiCarlo also cited a resurgence of the presence of ISIL/Da’esh and foreign terrorist fighters — including a deadly attack on United States forces earlier this month — and Israeli airstrikes and incursions in the southern city of Beit Jinn.

Ministry of Interior launches special stamp to mark World Arabic Language Day

By
NNPS Desk
-
0

Riyadh, Dec 19 (SPA/APP): The Ministry of Interior, represented by the General Directorate of Passports in cooperation with the King Salman Global Academy for the Arabic Language (KSGAAL), launched a special commemorative stamp to mark World Arabic Language Day, observed annually on December 18.
The stamp will be available to travelers at King Khalid International Airport in Riyadh Region, Jeddah Islamic Port in Makkah Region, and King Fahd Causeway in Eastern Region.

ICAIRE Launches Data, AI Glossary to mark World Arabic Language Day

By
NNPS Desk
-
0

Riyadh, Dec 19 (SPA/APP): The International Center for Artificial Intelligence Research and Ethics (ICAIRE) announced the launch of an interactive edition of the Data and Artificial Intelligence Glossary, in cooperation with the Saudi Data and Artificial Intelligence Authority (SDAIA), the King Salman Global Academy for Arabic Language (KSGAAL), and the Islamic World Educational, Scientific and Cultural Organization (ICESCO).
The launch coincides with World Arabic Language Day, observed annually on December 18.
The dictionary aims to preserve the Arabic language, enrich Arabic digital content with technical terminology and concepts, raise awareness of modern concepts, and facilitate access to information for researchers and practitioners. It seeks to unify technical terminology in support of the development of the digital economy and the building of a sustainable knowledge-based future.
The interactive edition enables users to easily browse AI- and data-related terminology in Arabic, English, and French, and allows users to interact with the dictionary by adding terms in various dialects. These enhance knowledge exchange and help ensure the unification and integration of efforts among scientific and technical institutions at both the regional and international levels. The dictionary includes more than 1,200 technical terms.

Three workers burnt alive in cotton factory fire

By
Samina Ch
-
0
FAISALABAD, Dec 19 (APP):Three workers burnt alive after a fire broke out at a cotton factory located in the limits of Sandal Bar police station on Friday.
According to Rescue 1122 officials,the fire erupted at Allah Tawakul cotton factory near Chak No.51-JB Lehlan due to unknown reasons.
The blaze quickly spread,engulfing the factory premises and destroying valuable material.
The victims were identified as Jameel,r/oLayyah,Muhammad Asghar(46) r/o Chak No.172 Layyah and Adnan(25) r/o Jampur district, Rajanpur.
Rescue 1122 teams reached to a spot,brought the fire under control after strenuous efforts and recovered the bodies from the debris.
Police have initiated an investigation to determine the cause of the fire.

PMYP, Empower Sports Academy launch women’s sports revolution nationwide

By
Samina Ch
-
0
ISLAMABAD, Dec 19 (APP):The Prime Minister’s Youth Programme (PMYP) entered into a landmark partnership with Empower Sports Academy to launch a nationwide women’s sports initiative aimed at identifying, training, and empowering 10,000 girls under the age of 19 every year, during a high-level meeting held at the Prime Minister’s Office, Islamabad, under the leadership of Chairman PMYP Rana Mashhood Ahmad Khan.
The initiative is designed to expand opportunities for young female athletes, strengthen Pakistan’s long-term sporting ecosystem, and build a robust pipeline of future national and Olympic-level talent.
The meeting marked the formal signing of a Letter of Intent (LoI) between PMYP and Empower Sports Academy, establishing a National Women’s Sports Initiative focused on talent identification, structured training, and athlete development across Pakistan.
The LoI was signed by Dr Muhammad Ali Malik, Joint Secretary PMYP, and Junaid Qureshi, Founder and Executive Director of Empower Sports Academy, in the presence of senior officials and representatives from both organizations.
Under the partnership framework, PMYP and Empower Sports Academy aim to reach 10,000 young girls annually through a nationwide multi-sport Talent Hunt Programme.
The programme will be implemented across provinces through field camps, regional trials, and school-based outreach
initiatives, to identify promising female athletes and provide them with long-term development support.
The initiative envisions nurturing potential future Olympians capable of representing Pakistan at international forums.
Speaking at the ceremony, Chairman PMYP Rana Mashhood Ahmad Khan said the initiative reflects the government’s unwavering commitment to empowering young women and expanding their access to sports and healthy competition.
He emphasized that investing in girls’ athletics is not only critical for sporting excellence but also contributes directly to youth development, physical well-being, social inclusion, and national progress.
He noted that a strong sports culture among women strengthens Pakistan’s future at both national and global levels.
As part of the initiative, Empower Sports Academy will design and implement high-performance frameworks, international standard assessment and evaluation tools, and multi-sport talent identification systems.
The Academy will collaborate with world-class coaches, international technical experts, and sports development professionals to create structured athlete pathways aligned with Olympic and global performance benchmarks.
In addition to the Talent Hunt Programme, the LoI also announces the launch of the Empower Women National Tournament, Pakistan’s first large-scale national-level women’s sports competition.
The tournament aims to provide competitive exposure to young female athletes from across the country and create a unified national platform for women’s sports.
PMYP will support the tournament through nationwide promotion, inter-ministerial coordination, and facilitation of resources and venues.
 The Programme will work closely with schools, colleges, sports boards, and relevant institutions to ensure maximum participation and representation from all regions of Pakistan.
The initiative further includes scouting and assessing 10,000 girls each year through structured trials and outreach programmes. High-potential athletes across multiple sports disciplines will be provided with training support, mentorship, access to athlete development resources, and opportunities to utilize government sports facilities, courts, and residential accommodations. The programme aims to significantly strengthen Pakistan’s women’s Olympic pipeline.
Speaking on the occasion, Junaid Qureshi said the partnership marks a defining moment for women’s sports in Pakistan.
He stated that in collaboration with PMYP, Empower Sports Academy will build the country’s largest female talent pipeline and provide young girls with the opportunity, training, and platform required to emerge as champions and represent Pakistan with pride on the global stage.
The Letter of Intent establishes a multi-year strategic framework focused on developing national talent, increasing female participation in sports, and elevating Pakistan’s visibility and competitiveness in international sporting arenas.

AlUla to host Endurance Race with riders from 12 countries

By
NNPS Desk
-
0

AlUla, Dec 19 (SPA/APP): AlUla Governorate on Saturday will host the Saudi Arabian Olympic and Paralympic Committee Endurance Cup, which will be held at AlFursan Equestrian Village with the participation of 200 male and female riders representing 12 countries.
The race is organized by the Royal Commission for AlUla in partnership with the Saudi Arabian Equestrian Federation. It features a main 120-kilometer race (CEI2*) divided into four stages, in addition to an international 100-kilometer race (CEI1*), as well as two local races over distances of 40 and 80 kilometers.
The organizing committee has set Friday as the date for the veterinary inspection of the participating horses, along with a briefing meeting for riders to explain the race regulations and instructions. The competitions will begin at dawn on Saturday.
Endurance races in AlUla enjoy strong interest from riders around the world, owing to their outstanding organization, breathtaking natural landscape and rich historical heritage in equestrian sports.

NBP Exchange Rates

By
Samina Ch
-
0
KARACHI, Dec 19 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Friday. the following exchange rates.
CURRENCY                       SYMBOL                      TT Selling                       TT Buying
US DOLLAR                         USD                           280.65                            280.15
EURO                                  EUR                           328.91                            328.32
JAPANESE YEN                     JPY                            1.7980                           1.7948
BRITISH POUND                  GBP                            375.41                           374.74
SWISS FRANC                     CHF                            352.99                           352.36
CANADIAN DOLLAR             CAD                             203.62                          203.25
AUSTRALIAN DOLLAR          AUD                             185.54                           184.21
SWEDISH KRONA                SEK                              30.23                            30.18
NORWEGIAN KRONE            NOK                             27.63                              27.58
DANISH KRONE                   DKK                              44.03                             43.95
NEWZEALAND DOLLAR      * NZD                             161.86                           161.57
SINGAPORE DOLLAR           SGD                             217.33                            216.94
HONGKONG DOLLAR            HKD                             36.07                            36.00
KOREAN WON                   *KRW                            0.1898                            0.1895
CHINESE YUAN                    CNY                             39.88                              39.81
ALAYSIAN RINGGIT             *MYR                            68.79                              68.66
THAI BAHT                         *THB                              8.93                              8.92
U.A.EDIRHAM                       AED                            76.43                             76.29
SAUDI RIYAL                         SAR                            74.83                            74.69
QATAR RIYAL                      *QAR                            77.02                            76.88
KUWAITI DINAR                 *KWD                          914.38                           912.75
CONVERSION RATE FOR FROZEN FCY DEPOSITS
USD             280.2275
GBP             374.6641
EUR              328.8189
JPY                1.7979

Up to 18,000 could die in major Tokyo quake, mostly from fires: estimate

By
NNPS Desk
-
0

TOKYO Dec 19 (Kyodo/APP): A powerful earthquake that has a high probability of occurring beneath Tokyo and nearby areas within the next few decades could kill up to 18,000 people, with two-thirds of the estimated deaths caused by fires, a government panel showed Friday.

But the latest estimate, made on the basis of a magnitude 7.3 quake hitting the metropolitan area, is 5,000 lower than the previous calculation in 2013, reflecting an increase in seismic-prepared buildings and fire prevention measures in densely packed districts with many wooden houses.

For comparison, there were 15,900 deaths related to the magnitude 9.0 earthquake and tsunami that devastated northeastern Japan on March 11, 2011.

Economic losses from factory destruction and reduced production, meanwhile, are projected at 82.6 trillion yen ($530 billion) in the worst-case scenario, down around 13 trillion yen from the previous estimate.

The government plans to update its disaster preparedness for a Tokyo inland earthquake and strengthen efforts to reduce damage and maintain core government functions under a new disaster management agency to be launched in fiscal 2026.

The government sees a roughly 70 percent chance of a magnitude 7 quake occurring beneath the metropolis within the next 30 years. The scenario assumes it being centered in the southern central area of Tokyo, where the capital’s core infrastructure would be hardest hit.

The worst-case scenario involves the quake hitting on a winter evening with winds of 28.8 kilometers per hour. Fatalities are expected across Tokyo and four nearby prefectures, with 8,000 deaths, or more than 40 percent of the total, projected in Tokyo alone.

Up to 402,000 buildings could collapse or burn down, down by around 210,000 from the previous estimate, with evacuees expected to gradually rise to 4.8 million after two weeks.

The projection for the first time also included estimates of deaths linked to people being forced to live in disaster shelters, putting it somewhere between 16,000 and 41,000.

In the event of a quake on a weekday at noon, an estimated 8.4 million people in Tokyo and four surrounding prefectures — Chiba, Kanagawa, Saitama and Ibaraki — would be unable to return to their homes. An additional 650,000 to 880,000 visitors to the areas, including tourists from overseas, could also be stranded.

In a separate estimate by the panel about a magnitude 8 earthquake along the Sagami Trough south of the capital, the death toll was reduced from 70,000 to 23,000.

Although the likelihood of such a quake occurring in the near future is considered low, potential casualties are greater than in the Tokyo inland scenario due to the high risk of tsunami and the need for rescue operations to cover a much wider area.

Country’s economy moving towards stability: BB Governor

By
NNPS Desk
-
0

DHAKA, Dec 19 (BSS/APP) : Bangladesh Bank Governor Dr Ahsan H Mansur said the country has successfully navigated a difficult economic phase and is now moving steadily towards stability, backed by strong macroeconomic fundamentals and wide-ranging reforms in the banking sector.
Speaking at a seminar on “Banking Sector Reforms: Challenges and the Way Forward,” as the chief guest at the Economic Reporters Forum (ERF), the Governor said preserving public confidence in banks, restoring macroeconomic stability and addressing structural weaknesses remain the key priorities of the central bank.
He noted that while confidence in the banking sector has not been fully restored, it has been largely maintained despite prolonged stress. “Preserving confidence itself is a major achievement during a challenging period,” he said, adding that the depositors have continued to show patience and cooperation.
Highlighting macroeconomic performance, the Governor said Bangladesh’s balance of payments position is now very strong. He said the financial account is in a substantial surplus, and the overall external balance remains firmly positive. Foreign exchange reserves have already risen in the current year.
“There is absolutely no risk of economic collapse, even with the upcoming election,” he said, stressing that external sector stability has been restored faster than initially expected. What was projected to take two to three years has largely been achieved within the first year, he added.
On exchange rate management, the Governor said there is no immediate concern. Bangladesh Bank has purchased more than US$2.5 billion from the foreign exchange market through transparent, market-based mechanisms and will continue to intervene only when necessary to ensure stability.
“Our policy is very clear: reserves must be built from our own economy, not through borrowing from external sources,” he said, adding that Bangladesh Bank will continue to act as a responsible participant in the foreign exchange market, as central banks do worldwide.
The Governor said the central bank aims to raise foreign exchange reserves to around US$34–$35 billion by the end of the year. This target, he added, will be pursued regardless of IMF disbursements. “IMF money is not essential for balance of payments stability. The real value of the IMF lies in technical support, not financing,” he observed.
Turning to banking sector reforms, the Governor identified three persistent challenges: weak governance in some institutions, capital shortfalls in several banks, and a high level of non-performing loans (NPLs). He said the true NPL ratio stands at around 36 percent, and Bangladesh Bank has opted for full transparency in data disclosure.
“We will not hide data. Transparency is the first step towards recovery,” he said, acknowledging concerns about credit ratings but stressing that concealment would only delay reforms.
As part of governance measures, the boards of 14 banks have been dissolved, and clear warnings have been issued that governance failures will lead to intervention. Resolution, he said, is an integral part of the governance process. In some cases, he however, said Bangladesh Bank has refrained from intervention where banks demonstrated strong deposit mobilisation despite high loan losses. Restrictions on such banks are being gradually eased based on performance monitoring.
The central bank Governor said five weak banks are being merged after completing all legal and regulatory procedures. Under the expanded deposit insurance scheme, depositors will have immediate access to insured funds, while a new alternative account mechanism will allow partial but prompt access to deposits.
Dr Mansur said the merged entity will emerge as one of the strongest banks in the country, with high paid-up capital, adequate liquidity and a wide branch network. “The government fully guarantees depositor protection. Confidence must not be lost, as that would harm everyone,” he said.
For non-bank financial institutions, the Governor said resolution will primarily take the form of liquidation rather than mergers, with depositor interests receiving the highest priority. Sponsor shareholders responsible for mismanagement, he added, will not be protected.
He also said dividend and bonus payments have been restricted for banks that are not profitable or have capital shortfalls. Accountability will extend to boards and management, while large loans above Taka 200 million will undergo third-party collateral verification and forensic scrutiny.
From January, risk-based supervision will be fully implemented across all banks, alongside the development of in-house forensic audit capacity at Bangladesh Bank to ensure early detection of financial misconduct.
Looking ahead, the Governor said comprehensive reform of the financial sector will take time—but must continue without interruption. He said key legal reforms include strengthening the bank resolution framework, deposit insurance, loan recovery laws, insolvency legislation and establishing an asset management company.
He also emphasised the need to strengthen the independence of Bangladesh Bank, saying legal protection from political pressure is essential for effective central banking. Finally, the Governor highlighted initiatives on financial inclusion and bond market development, noting that reducing excessive corporate reliance on banks through bonds and capital market instruments is vital for long-term financial sector maturity.
“Challenges remain, but the direction is clear,” he said, expressing confidence that sustained reforms and accountability will ensure a resilient and stable banking system for Bangladesh.

China, Zimbabwe sign deal to upgrade irrigation facilities

By
NNPS Desk
-
0

HARARE, Dec 19 (BRNN/APP): China and Zimbabwe on Thursday signed letters of exchange on the upgrading and maintenance of the China-aid irrigation schemes project, aiming to strengthen Zimbabwe’s agricultural productivity and climate change resilience.

The project will upgrade and renovate nine irrigation facilities in six provinces of Zimbabwe, according to the Chinese Embassy in Zimbabwe.

Responding to a question from Xinhua following the signing ceremony, Zimbabwean Finance Minister Mthuli Ncube said the support from China will aid Zimbabwe’s goal of increasing irrigated land and modernizing agriculture to boost productivity, particularly for rural farmers.

“This support from China will contribute to Zimbabwe’s objectives and vision to increase irrigation coverage right across the country. It is also the bedrock of rural industrialization, because once you have water and there is agricultural output,” said Ncube.

The irrigation project will also help climate-proof agriculture and ensure food security, as rain-fed agriculture is vulnerable to climatic disturbances such as droughts and erratic rainfall, Ncube said.

“This is a resource that will be used for upgrading various irrigation schemes, and this is critical for climate-proofing Zimbabwe’s agriculture. We have said this is the way to do it, whether it rains or not, we want to make sure that we can produce enough food for Zimbabweans, and irrigation is the key,” said Ncube.

Addressing the signing ceremony, Chinese Ambassador to Zimbabwe Zhou Ding said the project marks another milestone in the close partnership between China and Zimbabwe.

“It is designed to unlock greater productivity for smallholder farmers, catalyze agricultural modernization, and strengthen the nation’s resilience to climate change,” said Zhou, adding that China has been continuing to support Zimbabwe through various projects to improve local people’s livelihoods.

123...31,031Page 1 of 31,031

ABOUT US

Serving the nation since 1947 by providing an accurate, objective, uninterrupted flow of news to the people, the national news service is pursuing a comprehensive strategy to transform the existing news operations into a forward-looking service – APP Digital for its diverse subscriber-base and the public.

Contact us: news@app.com.pk

FOLLOW US

Copyright © Associated Press of Pakistan