Quetta Gladiators take on table-toppers Multan Sultans in PSL tonight

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Updated 12 March 2024
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Quetta Gladiators take on table-toppers Multan Sultans in PSL tonight

Quetta Gladiators take on table-toppers Multan Sultans in PSL tonight
  • The group stage of the PSL will be concluding with today’s match between Quetta and Multan
  • Both teams are separated by just one point on the table and have their eyes on the top 2 finish

ISLAMABAD: Quetta Gladiators will face off Multan Sultans today, on Tuesday, in their group match of the Pakistan Super League (PSL) 9th edition at the National Stadium in Karachi.

The group stage of the PSL will be concluding with today’s match between Quetta and Multan, which will start at 9pm Pakistan time.

Quetta have five wins from their nine matches played this season, while Multan have six wins from their nine games. Both teams are separated by just one point on the table.

“Both will have their eyes on crucial top 2 finish which will give them an extra chance of making it to the final,” read a post on the PSL website.

Quetta started off strongly with three wins on the bounce, before losing to Multan in their fourth game. They come into this match on the back of a win against Lahore Qalandars.

Multan also started their campaign with three wins on the trot, but they will be playing today’s match after a couple of losses. The Mohammad Rizwan-led side looked unbeatable at one point, but now they might not even finish in top two if they lose today’s match against Quetta.

Their last game against Islamabad United wherein Multan scored a mammoth 228 runs is seen as the best game of the season. However, Multan bowlers could not defend the total and they lost the match off the last ball.


‘Our tournament is over,’ say Pakistan fans after New Zealand loss at Champions Trophy

‘Our tournament is over,’ say Pakistan fans after New Zealand loss at Champions Trophy
Updated 46 sec ago
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‘Our tournament is over,’ say Pakistan fans after New Zealand loss at Champions Trophy

‘Our tournament is over,’ say Pakistan fans after New Zealand loss at Champions Trophy
  • New Zealand posted a commanding 320-5 after Pakistan won the toss and put the visiting team to bat
  • Pakistan’s defeat has left fans disappointed, with some saying they are not optimistic about India match

KARACHI: Disappointed Pakistan fans lamented their side’s slow start to the Champions Trophy on Wednesday, saying their tournament is already over after falling to a 60-run loss to New Zealand in Karachi.
Will Young struck 107 and Tom Latham smashed an unbeaten 118 to help New Zealand overcome a sluggish start and post a commanding 320-5 after being put into bat.
Glenn Phillips chipped in with a brisk 61 as New Zealand breached the 300-mark, which had looked like a distant dream after their wobbly start.
Pakistan were all out for 260 in 47.2 overs with Babar Azam (64) and Khushdil Shah (69) scoring half-centuries but the hosts never looked in the hunt.
The opening defeat left the home fans disappointed and frustrated after they packed into the National Bank Stadium.
“The do-or-die situation was today and I think our tournament is over,” Pakistan cricket fan Muhammad Umer said after the match. “If we’re struggling to score 300 runs at home, what will happen when we face tougher challenges? Scoring 300 runs is the norm these days, but unfortunately, our team’s potential is limited to around 250 runs.”
The eight-team tournament will continue till March 9. Pakistan entered the contest as the defending champions, having beaten India in the final of the 2017 edition.
The eight participating teams have been divided into two groups with hosts Pakistan, Bangladesh, India and New Zealand pooled in Group A while Group B comprises Afghanistan, current ODI World Cup champions Australia, England and South Africa.
Following their opening encounter against New Zealand, Pakistan will now play their next two group matches on February 23 against India in Dubai and on 27 February against Bangladesh in Rawalpindi.
However, Umer said he was not optimistic about the team’s next match with India either. His sentiment was also echoed by Maaz Hassan, another fan.
“It’s extremely disappointing that we’ve virtually been eliminated from the tournament after just one match,” he said. “With India next, it’s unrealistic to expect a win against them.”
Hassan said even if Pakistan beat Bangladesh, the team’s chances of survival in the tournament were slim.
“Today’s loss was a huge opportunity wasted, and it’s clear that we’ve not only lost this match, but the tournament as well,” he said.


Pakistan tells UN India using militant proxies amid surge in violence

Pakistan tells UN India using militant proxies amid surge in violence
Updated 48 min 34 sec ago
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Pakistan tells UN India using militant proxies amid surge in violence

Pakistan tells UN India using militant proxies amid surge in violence
  • Pakistani diplomat accused New Delhi of running a ‘global terrorism syndicate’ reaching North American shores
  • He says Indian administration is conducting ‘demographic engineering’ in the part of Kashmir under its control

ISLAMABAD: Pakistan accused India of employing militant groups as proxies to target Pakistan citizens and security forces at the United Nations Security Council on Wednesday, as it said New Delhi was conducting “demographic engineering” in the disputed Himalayan region of Kashmir under its control.
The statement by Pakistani diplomat Asif Khan came amid a surge in militant violence within Pakistan, particularly in the western provinces of Khyber Pakhtunkhwa and Balochistan. These regions, bordering Afghanistan, have experienced increased attacks from groups such as Tehreek-e-Taliban Pakistan (TTP) and separatist factions like the Baloch Liberation Army (BLA).
Pakistan has frequently accused Afghanistan’s interim administration of sheltering these armed factions and facilitating their attacks, allegations that Kabul has consistently denied. However, the recent accusation against India was articulated by Khan during his right of reply, following remarks from an Indian delegate concerning Kashmir and militancy.
“We heard the Indian delegate raising the bogey of terrorism to divert attention and for diplomatic point-scoring,” the Pakistani diplomat said. “It is most ironic that India, which is committing the worst form of state terrorism in Occupied Jammu and Kashmir, is portraying itself as the victim.”
“It is India which supports and finances terrorism against Pakistan by using its proxies such as Tehreek-i-Taliban Pakistan (TTP), Majeed Brigade and Baloch Liberation Army (BLA),” he added. “The country is insensitive to the tragic human dimension of terrorism.”
He accused India of insensitivity to the tragic human dimension of terrorism and described the country as running a “global terrorism syndicate,” saying it had gone from regional to global and even reached North American shores.
Addressing the Kashmir issue, Khan said India was undertaking demographic engineering since August 5, 2019, when it unilaterally revoked the region’s special constitutional status and decided to integrate it with the rest of the Indian union.
India and Pakistan have fought three wars, two of them over Kashmir, which they both claim in full but rule in part since their independence.
 


Egyptian fintech to invest $10 million in Pakistan, open 100 branches by year’s end

Egyptian fintech to invest $10 million in Pakistan, open 100 branches by year’s end
Updated 19 min 40 sec ago
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Egyptian fintech to invest $10 million in Pakistan, open 100 branches by year’s end

Egyptian fintech to invest $10 million in Pakistan, open 100 branches by year’s end
  • Halan Microfinance Bank currently provides financial services to micro, small and medium-sized enterprises in Sindh
  • MNT-Halan offers customers mobile wallets, debit and credit cards, and a Buy Now, Pay Later e-commerce platform

ISLAMABAD: Leading Egyptian fintech MNT-Halan plans to invest $10 million in Pakistan and open 100 new branches of its microfinance bank across the South Asian country by the end of this year, the company’s founder said this week, hoping to tap Pakistan’s large “unbanked” population. 

Founded in 2017 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan began as a ride-hailing platform before evolving into a comprehensive fintech organization after a share swap between Halan and MNT in 2018.

Following its acquisition of Advans Pakistan Microfinance Bank Ltd. in March 2024, MNT-Halan, Egypt’s largest and fastest-growing lender to the unbanked and underbanked, is providing financial services to micro, small and medium-sized enterprises through Halan Microfinance Bank’s 19 branches in Pakistan’s southern Sindh province.

“We are rapidly scaling operations in Pakistan to address the country’s large unbanked population and cash-driven economy,” Mounir Nakhla, the founder and CEO of MNT-Halan, told Arab News on Wednesday. 

“And by the end of 2025, we aim to increase our investments to $10 million to support our local expansion, digital transformation and product innovation.” 

MNT-Halan offers cutting-edge digital financial solutions such as mobile wallets, debit and credit cards, and a BNPL (Buy Now, Pay Later) e-commerce platform. These services enhance accessibility and efficiency in Pakistan’s microfinance sector.

“We also plan to open 100 new branches and business units and serve 200,000 customers and we also intend to grow our loan book to $500 million within five years,” Nakhla said. 

FORMAL TRANSACTIONS, INFORMAL ECONOMY

Pakistan’s economy lacks digital inclusion and is mainly dominated by cash-based commercial transactions. Micro and small retailers make very little use of electronic payments.

Nakhla said Pakistan represented a significant growth opportunity, adding that the Egyptian fintech was well-positioned to expand its operations here. 

He said MNT-Halan was focused on small-and-medium enterprises (SME) lending to support businesses and entrepreneurs, along with providing customers salary-based and earned wage access (EWA) loans to address liquidity needs.

“Additionally, we are committed to offering Shariah-compliant financial services for women entrepreneurs and agricultural lending, ensuring alignment with market demand,” Nakhla said. 

He said Pakistan’s household debt-to-GDP ratio is among the lowest in the world at just 3-4 percent, signaling a massive unmet demand for credit.

“Key drivers of our expansion included large, cash-driven economy as Pakistan has $33 billion in circulation, with daily cash transactions exceeding $175,000,” Nakhla said. 

He pointed out that Pakistan had a large underserved micro and SME sector where millions of businesses rely on informal lending at high costs.

Nakhla said MNT-Halan provided scalable, tech-driven lending solutions to bring informal transactions into the formal economy. He said the fintech follows a hybrid model that combines physical expansion with digital innovation to enhance efficiency and accessibility in Pakistan. 

“By digitizing lending and optimizing credit decision-making, we will expand access while maintaining low-risk, high-efficiency operations,” he said. 

Nakhla said a key component of this strategy was the Neuron Core Banking System, an AI-powered platform designed to support risk assessment models, enable instant credit decisions, facilitate real-time processing and enhance fraud detection. 

“The company also plans to launch Halan super app, our mobile-first lending platform which will allow customers to apply, track and manage their loans seamlessly, reducing reliance on physical banking,” he added.

He said MNT-Halan is also developing alternative data and AI credit solutions that will leverage behavioral and transactional data to assess unbanked customers who have no traditional credit history. 

“Risk management is at the core of our lending strategy as we ensure high portfolio quality through diversified portfolio strategy, a balanced mix of microfinance, SME lending, and consumer credit mitigates exposure,” he added.


Pakistan’s finmin calls for technical support in meeting with World Bank delegation

Pakistan’s finmin calls for technical support in meeting with World Bank delegation
Updated 19 February 2025
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Pakistan’s finmin calls for technical support in meeting with World Bank delegation

Pakistan’s finmin calls for technical support in meeting with World Bank delegation
  • World Bank delegation arrived in Pakistan this week to discuss country’s economic projects and investments 
  • Muhammad Aurangzeb informs delegation of Pakistan’s economic gains and reforms agenda, says Finance Division 

KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb on Wednesday told a World Bank delegation that the country has enough financial assistance, stressing that it requires technical support and expertise to make the most of it. 
A delegation of nine executive directors of the World Bank arrived in Pakistan this week to discuss the country’s economic projects and investments, meeting Prime Minister Shehbaz Sharif on Monday.
The World Bank last month announced it would provide Pakistan with $20 billion in loans over the next decade. These loans are expected to be invested in nutrition, education and renewable energies in the hope of stimulating private-sector growth in the country. 
“We have enough financial support and assistance; what we truly need now is the expertise and technical support to make the most of them,” Aurangzeb was quoted by Pakistan’s Finance Division as saying in a statement. 
Aurangzeb appreciated the international institution’s support for Pakistan’s economic growth and development agenda. He outlined the government’s structural reforms, focusing on revenue mobilization, energy sector reforms, restructuring of state-owned enterprises and privatization efforts. 
“He emphasized the government’s focus on fiscal discipline through expenditure control and broadening the tax base, highlighting ongoing rightsizing efforts and projected revenue growth,” the Finance Division said. 
The minister reaffirmed Pakistan’s commitment to privatize loss-making public assets, saying that Islamabad was committed to ensuring a business-friendly environment where the private sector takes the lead in driving economic growth.
The Finance Division said that the delegation appreciated Pakistan’s reform agenda, noting that key economic measures were already yielding visible results. 
“Your government has been successful in touching every important aspect of the economy, and things seem to be achievable now if you stay the course,” the delegation said, as per the Finance Division.  
The World Bank officials also reaffirmed the institution’s commitment to continuing its collaboration with Pakistan, supporting priority sectors and providing the necessary technical expertise to help the country navigate economic challenges, the Finance Division said. 
Cash-strapped Pakistan has long suffered from a macroeconomic crisis, which caused it to come to the brink of a sovereign default in 2023. The International Monetary Fund (IMF) rescued Islamabad by agreeing to a last-gasp $3 billion bailout in 2023.
Last year, Islamabad secured a new $7 billion loan deal from the IMF. Since then, the country’s economy has started improving with weekly inflation coming down from 27 percent in 2023 to 1.8 percent in January year-on-year.


Pakistan PM assures top judge of expediting effective measures on ‘missing persons’

Pakistan PM assures top judge of expediting effective measures on ‘missing persons’
Updated 19 February 2025
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Pakistan PM assures top judge of expediting effective measures on ‘missing persons’

Pakistan PM assures top judge of expediting effective measures on ‘missing persons’
  • Hundreds of political workers, rights activists have gone missing in Pakistan over the years
  • Pakistan’s security forces deny allegations they abduct, torture these “missing persons”

ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Wednesday assured Chief Justice Yahya Afridi of expediting effective measures related to “missing persons,” a statement from Sharif’s office said, as the two met to discuss the country’s justice system.
Hundreds of political workers, rights activists and professionals have gone missing in Pakistan over the years, particularly in the northwestern Khyber Pakhtunkhwa (KP) and the southwestern Balochistan provinces, where militants have waged a war against the state for long.
Families and rights activists say people picked up by security forces often disappear for years and are sometimes found dead, with no official explanation. Pakistani security agencies have been blamed in many cases, though they have always denied involvement in such disappearances.
Sharif met Justice Afridi at the Chief Justice House in Islamabad, where he congratulated him on assuming his responsibilities. Justice Afridi was sworn in as Pakistan’s 30th chief justice in October 2024.
“The prime minister also assured the chief justice of expediting effective measures regarding missing persons,” the Prime Minister’s Office (PMO) said in a statement, without elaborating what these measures were.
The PMO said Sharif informed the chief justice about pending tax disputes in Pakistani courts, requesting Justice Afridi to decide these cases on merit at the earliest.
Sharif’s office said he discussed Pakistan’s economic situation and security challenges with the top judge.
Justice Afridi sought suggestions from Sharif on improving the country’s justice system, the statement said.
“Chief Justice Yahya Afridi welcomed the Prime Minister’s discussion on improving the justice system,” the PMO said. 
Pakistan’s Law Minister Azam Nazir Tarar, Minister for Economic Affairs Ahad Khan Cheema, Attorney General Mansoor Usman Awan and the Supreme Court’s registrar were also present during the meeting. 
Pakistan’s government set up a Commission of Inquiry on Enforced Disappearances (COIOED) in 2011 to trace missing persons in the country and hold those responsible for abducting them. 
In a report released last year, the commission said around 10,285 cases had been registered with the body since January 2018, of which 4,514 individuals had returned home. 
It said around 1,002 persons were in internment centers, 671 in prisons and the bodies of 277 had been recovered. Additionally, the report said 1,551 cases were closed for various reasons.