Karachi police kill suspect in alleged encounter over six-year-old girl's murder

The police on Thursday killed a man suspected of kidnapping and murdering a six-year-old girl in an alleged encounter in Karachi's Jackson area. The girl, identified as a resident of Baba Bhit Island, had gone missing a day ago. Her body was found in the bushes near Kachhi Line in Manora today According to police, investigators obtained CCTV footage from multiple locations during the probe into the kidnapping and murder. The footage allegedly showed the suspect wearing a red cap, a black-and-white shirt and blue jeans while carrying a sack on his shoulder at the jetty. Read: Girl found dead in tuition centre washroom Police said the footage also showed him boarding a launch with the sack, which allegedly contained the girl's body. Jackson Station House Officer (SHO) Inayatullah Marwat said the suspect was identified through the CCTV footage, after which police launched a search operation. He said police later received information from intelligence sources that a man matching the suspect's description was present near Mubarak Masjid Street along the seafront. A police party reached the spot, where the suspect allegedly opened fire after seeing the officers. Police returned fire, critically injuring the suspect, who later died. A weapon was recovered from his possession, according to the SHO. He added that a team was summoned from the Crime Scene Unit to collect evidence before taking the body to Civil Hospital Karachi for legal formalities. SHO Marwat said a separate case had been registered over the alleged encounter, while legal and forensic proceedings were under way. The investigation into the girl's kidnapping and murder was continuing in light of CCTV footage, medico-legal, forensic, technical and other available evidence, he added. Also Read: Child's brutal rape, murder shakes the city Sindh Home Minister Ziaul Hassan Lanjar praised the Keamari police for making progress in the investigation and for killing the absconding suspect in the alleged police encounter. According to a spokesperson, the home minister commended Keamari Senior Superintendent of Police Singhar Ali Malik and his team for their efforts. Lanjar said crimes against innocent children were highly condemnable and directed authorities to utilise all available resources to bring those responsible to justice in accordance with the law. He also directed investigators to complete the probe on merit by examining all available evidence, including CCTV footage, medico-legal findings, forensic evidence, technical data and other material. The home minister said the possible involvement and role of the deceased suspect in the kidnapping and murder case should be determined based on concrete evidence.

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Malaika, Balochistan 1st female summiteer

In a historic achievement for Pakistan's mountaineering community, 14-year-old student Malaika Khilji from Balochistan has become the first woman from the province to summit Khosar Gang Peak. The expedition, organised under the auspices of the Alpine Club of Pakistan, marks a significant milestone in the country's climbing history, said a statement issued here. After successfully reaching the summit, Malaika Khilji hoisted Pakistan's green and white flag, a gesture symbolizing her love for the country and the determination of Pakistani youth. The Alpine Club of Pakistan congratulated Balochistan's "proud daughter" Malaika Khilji and her family on this historic accomplishment. Malaika Khilji's success sends a powerful message to the world that the true identity of Balochistan lies in its talented, courageous, and hopeful young people.

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Petrol up Rs6.39, HSD Rs7.83 for July 23 under daily pricing

The federal government on Wednesday increased the prices of petrol and high-speed diesel (HSD) by Rs6.39 and Rs7.83 per litre, respectively, for July 23. According to a notification issued by the Ministry of Petroleum, the price of petrol has been fixed at Rs327.12 per litre, while HSD will now cost Rs375.04 per litre. The latest revision came hours after the government and the All Pakistan Petrol Pump Owners Association reached an agreement to postpone the association's planned nationwide shutdown for two weeks following successful negotiations with Petroleum Minister Ali Pervaiz Malik, who assured dealers that their long-pending concerns would be addressed. Read: Nationwide petrol pump strike postponed for two weeks after govt assurances This is the third consecutive day the government has revised the prices of petrol and HSD after deciding last week to switch to a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East. Under the new system, daily fuel prices are based on a seven-day average of international market rates to align with international standards.

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Pakistan seeks $10b in US backstop facility

Pakistan has asked the United States for a $10 billion exchange stabilisation facility, according to a source briefed on the matter, which, if approved, could provide a lifeline for the cash-strapped South Asian economy. The request, which is being reported for the first time, follows Pakistan's role in brokering talks over the Iran war, which raised its diplomatic profile and stirred hopes that it could seek economic gains from Washington and other partners. In the request to US Treasury Secretary Scott Bessent, Islamabad is seeking a Bilateral Exchange Stabilization Support Facility between the USand the Pakistani government worth $10 billion with maturity of up to five years. The facility, if agreed to, would bolster Pakistan's reserves, ease pressure on the rupee and reduce its reliance on multilateral financing, even as Islamabad undertakes tighter fiscal and monetary policies in line with its International Monetary Fund programme. Pakistan remains under $7 billion IMF discipline that has required politically unpopular tax increases, spending restraint and reforms. Pakistan's finance ministry did not immediately respond to Reuters request for comment outside of Asia business hours. The US Treasury also did not immediately respond to request for comment. Exchange stabilization facilities are rare US Treasury backstops, usually routed via the Exchange Stabilization Fund, that provide dollars, swaps or guarantees to support reserves and steady currencies. These facilities are different from the permanent standing dollar swap lines that the US Federal Reserve has with some major central banks and acts as an international supply line of US dollars to underpin financial stability. A 2025 Argentina package was the first new foreign-government exchange stabilization facility operation since Uruguay in 2002, aside from Mexico's long-standing swap line, dating to the 1940s and now sized at $9 billion. Pakistan narrowly avoided default in 2023 with a $3 billion IMF standby deal and later secured a $7 billion Extended Fund Facility, but its reserves still depend on official financing, rollovers and deposits from China and Saudi Arabia. That leaves Islamabad exposed to shifts in bilateral support and IMF disbursement delays, and that vulnerability got exposed in April when Pakistan repaid about $3.5 billion, one-fifth of its reserves, to the United Arab Emirates with Saudi Arabia providing $3 billion in fresh support. Pakistan's central bank said in January that reserves could return to near their 2021 record, reaching $20 billion by the end of 2026. US exchange stabilization facility would carry weight as both a liquidity backstop and political signal, easing pressure on reserves and the Pakistani rupee, while reducing the South Asian country's dependence on IMF tranches and ad hoc rescues. IMF-backed reforms have stabilized the economy at a political cost, including higher taxes, spending restraint and limited room for development or welfare spending.? Global ratings agency Fitch said in April that Pakistan's adherence to its IMF programme has supported the country's funding capacity, while rebuilt foreign exchange buffers provide a cushion against economic shocks from the Middle East conflict. But deeper constraints remain. Fitch cautioned that rising energy costs and potential supply disruptions could sharply erode the country's foreign exchange reserves. Foreign investment in Pakistan has remained thin, deterred by recurring external crises, policy uncertainty, security risks, past profit-repatriation curbs and a narrow export base, while the country's credit rating remains deep in speculative-grade territory, keeping borrowing costs high and market access limited. Pakistan has sought to use its ties to the Trump administration to address some of these issues, with economic cooperation that has so far spanned crypto, real estate and mining. Pakistan has signed a stablecoin agreement for cross-border payments with an affiliate of World Liberty Financial, the main crypto business of President Donald Trump's family, pursued a memorandum of understanding to redevelop the closed PIA-owned Roosevelt Hotel in New York with the US government, and courted US mining investment, including in Reko Diq, where the US Export-Import Bank has announced $1.2 billion in financing. Reuters

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Pakistan seeks $10 billion in US backstop facility to boost reserves, source says

Pakistan has asked the United States for a $10 billion exchange stabilization facility, according to a source briefed on the matter, which, if approved, could provide a lifeline for the cash-strapped South Asian economy. The request, which is being reported for the first time, follows Pakistan's role in brokering talks over the Iran war, which raised its diplomatic profile and stirred hopes that it could seek economic gains from Washington and other partners. In the request to US Treasury Secretary Scott Bessent, Islamabad is seeking a Bilateral Exchange Stabilization Support Facility between the US and the Pakistani government worth $10 billion with a maturity of up to five years. Read: PM sees new era in relations with US The facility, if agreed to, would bolster Pakistan's reserves, ease pressure on the rupee and reduce its reliance on multilateral financing, even as Islamabad undertakes tighter fiscal and monetary policies in line with its International Monetary Fund programme. Pakistan remains under $7 billion IMF discipline that has required politically unpopular tax increases, spending restraint and reforms. Pakistan's finance ministry did not immediately respond to Reuters' request for comment outside of Asia business hours. The US Treasury also did not immediately respond to a request for comment. Exchange stabilization facilities are rare US Treasury backstops, usually routed via the Exchange Stabilization Fund, that provide dollars, swaps or guarantees to support reserves and steady currencies. These facilities are different from the permanent standing dollar swap lines that the US Federal Reserve has with some major central banks and act as an international supply line of US dollars to underpin financial stability. A 2025 Argentina package was the first new foreign-government exchange stabilization facility operation since Uruguay in 2002, aside from Mexico's long-standing swap line, dating to the 1940s and now sized at $9 billion. Pakistan narrowly avoided default in 2023 with a $3 billion IMF standby deal and later secured a $7 billion Extended Fund Facility, but its reserves still depend on official financing, rollovers and deposits from China and Saudi Arabia. That leaves Islamabad exposed to shifts in bilateral support and IMF disbursement delays, and that vulnerability got exposed in April when Pakistan repaid about $3.5 billion, one-fifth of its reserves, to the United Arab Emirates, with Saudi Arabia providing $3 billion in fresh support. Pakistan's central bank said in January that reserves could return to near their 2021 record, reaching $20 billion by the end of 2026. Recasting ties with Washington A US exchange stabilization facility would carry weight as both a liquidity backstop and political signal, easing pressure on reserves and the Pakistani rupee, while reducing the South Asian country's dependence on IMF tranches and ad hoc rescues. IMF-backed reforms have stabilized the economy at a political cost, including higher taxes, spending restraint and limited room for development or welfare spending. Global ratings agency Fitch said in April that Pakistan's adherence to its IMF programme has supported the country's funding capacity, while rebuilt foreign exchange buffers provide a cushion against economic shocks from the Middle East conflict. But deeper constraints remain. Fitch cautioned that rising energy costs and potential supply disruptions could sharply erode the country's foreign exchange reserves. Read: Pakistan-US ties based on shared interests, commitment to advancing peace: President Zardari Foreign investment in Pakistan has remained thin, deterred by recurring external crises, policy uncertainty, security risks, past profit-repatriation curbs and a narrow export base, while the country's credit rating remains deep in speculative-grade territory, keeping borrowing costs high and market access limited. Pakistan has sought to use its ties to the Trump administration to address some of these issues, with economic cooperation that has so far spanned crypto, real estate and mining. Pakistan has signed a stablecoin agreement for cross-border payments with an affiliate of World Liberty Financial, the main crypto business of President Donald Trump's family, pursued a memorandum of understanding to redevelop the closed PIA-owned Roosevelt Hotel in New York with the US government, and courted US mining investment, including in Reko Diq, where the US Export-Import Bank has announced $1.2 billion in financing.

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Petrol pump owners announce nationwide shutdown after talks with govt fail

The All Pakistan Petrol Pumps Owners Association (APPPOA) on Tuesday announced a nationwide shutdown of petrol pumps from Tuesday night after talks with the government over its demands ended without a breakthrough. Amid volatility in global oil prices following renewed hostilities in the Middle East, the government last week switched to a daily fuel price review mechanism. Under the new system, daily prices are based on a seven-day average of international market rates to align with international standards. Addressing a press conference, the association's chairman, Humayun Khan, said representatives of the All Pakistan Petrol Pump Association from all four provinces, as well as Gilgit-Baltistan and Azad Kashmir, had met Petroleum Minister Ali Pervaiz Malik and presented two key demands. Read: Govt raises petrol price by Rs4.93, HSD by Rs7.15 per litre for July 22 “Our two main demands were that our commission should be converted to a percentage-based system and that the daily revision of fuel prices should be abolished and reverted to a monthly mechanism,” he said. He said the talks had failed to resolve the association's concerns. “Our problems remain unresolved. If you look at the situation with the oil marketing companies (OMCs), dealers across Pakistan are currently going through extremely difficult circumstances,” he said. Criticising the government's decision to revise petroleum product prices on a daily basis to align them with international rates, Khan said dealers across Pakistan had been incurring losses for the past two to three months. “The price was increased yesterday and we are hearing that it will be increased again today. The government has shifted the burden onto petrol pumps, OMCs and refineries to escape public criticism, saying it is no longer their responsibility,” he said, adding that the authorities were misleading the public by increasing prices every day. “The public understands this very well. Whether you increase prices by Rs100 at once or by Rs5, Rs10 or Rs20 every day, the result is the same,” Khan added. The chairman said the association had urged the government to resolve the issue in a manner that was fair to both the public and petrol pump owners but, despite every effort, “we have come to realise that this government does not want to resolve the problems of the business community.” He announced a nationwide shutdown, including in Gilgit-Baltistan and Azad Kashmir, adding that the association was also in contact with oil tanker owners, who would soon announce their own strike. Also Read: Govt shifts to daily POL pricing amid global headwinds  He urged the government to listen to the concerns of the business community, describing petrol pump owners as the biggest stakeholders in the petroleum industry. He lamented that whenever the government formulated a policy, petrol pump owners were not taken into consultation. He said the shutdown would continue until all of the association's demands were accepted. Earlier, talks between the government and the association failed to produce a breakthrough, with both sides ending the meeting without any progress. In a video message, association leader Nauman Butt said negotiations with the petroleum minister had failed to yield any positive outcome, while discussions on dealers' margins and the implementation of daily fuel price revisions also remained inconclusive. He said the association had decided to shut petrol pumps across the country from midnight on July 22 and would continue the nationwide strike until its demands were accepted. The association directed all petrol pump owners to participate in the strike fully and appealed to them to keep their outlets closed from midnight on July 22. Read More: Daily fuel revisions trigger commuting chaos Meanwhile, the Pakistan Goods Transport Alliance announced its support for the strike called by the All Pakistan Petrol Pump Association. In a statement, the alliance's president, Malik Shehzad Awan, urged the federal government to accept what he described as the legitimate demands of the All Pakistan Petrol Pump Association and the Petroleum Dealers Association. Awan said transporters, petrol pump owners and the dealers' association were heading towards a nationwide strike due to what he called the federal government's flawed policies. He also rejected the government's decision to revise petroleum product prices daily. “The strike by the All Pakistan Petrol Pump Owners Association and the Petroleum Dealers Association will bring our transport operations to a halt,” he said. He urged the federal government to “come to its senses” and make decisions after taking stakeholders into confidence. Awan also said the federal and provincial governments were providing no relief to goods transporters.

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Judiciary proposes Commercial Court

Pakistan's superior judiciary has recommended the establishment of an International Commercial Court of Pakistan (ICCP) through a proposed constitutional amendment aimed at strengthening the country's commercial dispute resolution framework and boosting investor confidence. The recommendation was made during the 49th meeting of the Law and Justice Commission of Pakistan (LJCP), chaired by Chief Justice of Pakistan (CJP) Yahya Afridi. The meeting was attended by the attorney general for Pakistan, chief justices of the high courts, the secretary of the Ministry of Law and Justice and members of the commission. Federal Minister for Law and Justice Azam Nazeer Tarar also attended as a special invitee. According to an official statement, the proposed ICCP would be established as an independent federal superior court through the insertion of a new Article 212A in the Constitution. The proposed court is envisaged to provide swift and efficient resolution of international commercial disputes, strengthen the enforcement of arbitral awards, promote consistency and predictability in commercial jurisprudence, enhance investor confidence and position Pakistan as a credible destination for international trade and investment. Considering the constitutional nature of the proposal, the commission resolved to recommend the proposed constitutional amendment to the federal government for consideration and initiation of the necessary legislative process. The statement said the recommendation reflected the commission's vision of aligning Pakistan's commercial justice framework with international best practices and creating an enabling legal environment that supports sustainable economic growth and increased foreign direct investment. The commission also approved proposed amendments to Section 3A(1A) of the Banking Companies Ordinance, 1962, recommending that the jurisdiction of the Banking Mohtasib be extended to customers of microfinance banks and institutions. The proposed reform seeks to provide millions of microfinance customers with an effective, affordable and accessible grievance redress mechanism, thereby strengthening consumer protection, promoting financial inclusion and reinforcing public confidence in the financial sector. The proposed amendment has also been recommended to the federal government for appropriate legislative action. The commission said that by recommending reforms aimed at enhancing commercial certainty while expanding consumer protection, it had reaffirmed its commitment to supporting Pakistan's economic development through a modern, efficient and responsive justice system.

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