Overview

• Islamabad scheduled a signing at the Prime Minister’s Office to raise Rs1,275 billion from 18 banks to curb circular debt, with the prime minister joining virtually and sector regulators and lenders invited.
• Officials said the borrowing targets a Rs1,661 billion backlog recorded by July 2025, will be repaid in 24 quarterly tranches, and will be serviced through consumer surcharges, which currently add about Rs3.23 per unit.
• The UK Department for Transport granted PIA direct cargo permissions and ACC3 security certification, and the airline says passenger services will restart next month starting with Manchester before expanding to Birmingham and London.
• PIA’s cargo approval runs to August 18, 2030 from Islamabad, Lahore and Karachi, though the carrier has no dedicated freighters; the UK also issued third country operator authorization, ending a ban in place since 2020.
• The White House signaled potential institutional sanctions on the ICC over its Israel-related investigations, with reports of the court preparing contingency steps, while at home Sindh held by-elections for 28 municipal seats under tight security and Pakistan Railways canceled the morning Jafar Express after the Dasht track blast, as Malakand authorities probed a deadly clash and the Lahore High Court released a written bail order in the Dr. Shahid Siddique case.