ISLAMABAD: The government on Thursday said the International Monetary Fund (IMF) was seeking about 174 amendments to various laws to improve governance in the financial sector, state-owned enterprises, foreign remittances, climate change and local currency integration as part of its two ongoing programmes worth $8.4 billion.

“There are a total of 174 amendments the IMF wants to be passed,” Finance Secretary Imdadullah Bosal told the National Assembly Standing Committee on Finance and Revenue, presided over by Syed Naveed Qamar.

He said the government was working on the amendments, which would be placed before parliament for approval.

The statement came ahead of formal negotiations with a visiting IMF staff mission for the fourth review of the $7bn Extended Fund Facility (EFF) and the third review of the Resilience Support Facility (RSF), beginning on Monday.

A day earlier, IMF Mana­ging Director Kristalina Geor­gieva — who met PM Shehbaz Sharif on the sidelines of the UN General Assembly — appreciated the country’s performance under its programme and praised the government’s efforts for economic stabilisation, which she noted were yielding tangible results.

Mr Bosal said changes to the Sovereign Wealth Fund (SWF) law were also part of the discussions. He said the IMF had been clearly told that the proposed amendments would be presented to parliament, but their approval remained parliament’s prerogative.

The SWF, covering five maj­or blue-chip companies, incl­u­ding OGDCL and Pakistan State Oil, has been a critical debating point of discussion as the IMF wants their governance and financial reporting standards to be brought at par with those applicable to other state-owned enterprises.

The SWF group was created as a prospective investment vehicle for government-owned entities from Saudi Arabia, Qatar and the UAE, but little progress has been made.

Mr Bosal said the government was also holding discussions with the IMF on remittances, which were critical to Pakistan’s external stability. He said efforts were needed to address costly payment-system impediments, while the IMF had strongly opposed subsidies for facilitating remi­ttances. Such subsidies, which had previously crossed Rs120bn, have already been withdrawn.

He said changes to the sugar policy were also among the benchmarks for the IMF review and that the federal government had circulated a draft policy for liberalisation. Three provinces had agreed to the policy, while one had raised reservations that needed to be addressed.

Committee Chairman Nav­eed Qamar questioned the government’s strategy for power distribution companies (Dis­cos), particularly the fate of loss-making entities. “You will give away the profitable Dis­cos, but what will happen to the remaining ones?” he asked.

The panel stressed that economic reforms should be underpinned by a coherent, transparent and sustainable strategy, particularly where their implementation could impose additional costs on consumers, businesses and productive sectors of the economy.

Mr Qamar said fiscal consolidation should be accompanied by measures to promote investment, exports, employment and sustainable economic growth.

Members emphasised that assessment of the IMF programme should not remain confined to formal compliance with prescribed benchmarks but should also determine whether reforms were translating into measurable economic and social outcomes.

The committee sought clearer information on implementation timelines, outstanding commitments, effectiveness of public expenditure and the implications of various reforms for citizens, businesses and taxpayers.

The finance secretary reported that approximately $4.5bn had been disbursed by the IMF and three programme reviews had been completed.

He said the programmes were supporting balance-of-payments needs and macroeconomic stability while requiring reforms relating to revenue mobilisation, debt sustainability, fiscal consolidation, taxation, the energy sector, SOE governance and trade liberalisation.

The committee was informed that key programme commitments included parliamentary consideration of supplementary expenditure beyond approved budgets, restrictions on new tax amnesties and preferential tax treatment, energy-sector reforms and implementation of the National Fiscal Pact with the provinces.

The panel also examined the retailer tax-registration scheme, with members questioning its limited initial participation and seeking a measurable assessment of its effectiveness.

The committee called for an evaluation covering the number of registrations, revenue generated, compliance outcomes and whether the scheme’s existing design required further adjustment.

It stressed that the finance ministry should assess the scheme’s performance over a defined period and hold implementing authorities accountable against clearly stated objectives.

Members also sought detailed data on industrial captive-power users that had shifted to the national grid and asked for clarification about the implications for gas and petroleum consumption and circular debt.

They said implementation of energy-sector reforms should be assessed against actual operational, financial and economic outcomes.

The committee also reviewed the governance framework for state-owned enterprises and the reporting relationship between government-owned entities, their respective line ministries and the finance division.

Officials said reporting lines had been clarified and proposed amendments were aimed at strengthening boards, improving governance and enhancing investment discipline within the Sovereign Wealth Fund framework.

Published in Dawn, September 25th, 2026

ISLAMABAD: A PTI leader on Thursday hinted at the possibility of postponing its protest march if the federal government agreed to hold elections within six to eight months, release party chief Imran Khan and other political prisoners, and investigate May 9 and November 26 crackdowns on the opposition party.

Advocate Naeem Haider Panjutha told Dawn that the protest could be postponed if these three assurances were given by the government.

There was no clarity on where such a proposal originated from, which added to confusion about the PTI’s plans for its Sept 27 protest. Party spokesperson Sheikh Waqas Akram, however, denied any such proposal was being discussed at any party forum, saying only Imran Khan could take a decision even if such a proposal was on the table.

“The first and primary condition is that the public mandate be respected and for that free, fair and tran­s­parent elections must be held within six to eight months,” Mr Panj­utha said, while demanding a clear guarantee that elections would be held before the end of this financial year.

All political prisoners, including Imran Khan, must be released — not through any deal or political settlement, but through the courts and due process of law, he said, adding that all cases against Imran Khan were “weak”.

The third demand was for a judicial inquiry into the events of May 9 and November 26. “If these three demands are fulfilled, the march can be postponed,” he said, adding that in case these demands were ignored, the PTI would be “coming with no compromise, no retreat, and no turning back”.

On the other hand, Sheikh Waqas Akram told Dawn the above mentioned conditions were shared with the government after the D-Chowk incident, but the government had not responded positively, so the conditions were then withdrawn on the order of Imran Khan. “We have not received any concrete offer from the government side, so the long march will be held come what may. Even if we get an offer, we will demand to arrange a meeting with Imran Khan, as only he can postpone it,” he added. Sheikh Waqas said the PTI cannot afford to announce postponement of march, especially when its ministers were being abducted.

In a meeting held at the opposition chamber in the Senate, PTI interim chairman Barrister Gohar Ali Khan and former senator Mustafa Nawaz Khokhar met Senate Opposition Leader Allama Raja Nasir Abbas and discussed preparations for the planned long march. According to a statement issued by the Tehreek-i-Tahafuz-i-Ayeen-i-Paki­stan (TTAP), the participants held a detailed discussion on the prevailing situation in Khyber Pakhtunkhwa and growing challenges to provincial autonomy. The meeting also focused on the Sept 27 march, preparations for the event and the strategy to be adopted in the coming days.

Rangers deployed

Separately, the federal government approved the deployment of Rangers in Islamabad and several districts of Punjab from Sept 20 to Oct 5. “Pursuant to the request made by the chief commissioner, Islamabad Capital Territory … and Home Department, government of Punjab …, the federal government is pleased to authorise deployment of sufficient strength of troops of Pakistan Rangers (Punjab) in ICT and different districts of Punjab province,” an interior ministry notification read.

The deployment has been aut­h­orised under Sections 7(b) and 10 of the Pakistan Rangers Ordin­ance, 1959, and Sections 4 and 5 of the Anti-Terrorism Act, 1997, to perform functions specified under the laws, as authorised by the Islamabad chief commissioner or the provincial government.

“The deployed troops may respond appropriately in self-defence to any threats or violent activities encountered in the course of their duties as per rules/regulations in vogue,” the notification stated. The Punjab government also sent a letter to the interior ministry requesting mobile and internet services at specific locations in Rawalpindi and Attock to be downgraded or jam­med on Sept 27.

Published in Dawn, September 25th, 2026

WASHINGTON: US and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, sources close to the talks said.

The strait, through which a fifth of the world’s oil passes, has become the central bargaining chip in efforts to end the war. Iran wants relief from a blockade that is strangling its economy; Washington wants free passage restored for ships on the vital oil route that Tehran has kept closed.

Talks are complicated by a familiar diplomatic problem: neither side wants to move first.

Two Iranian sources, two regional officials and two Western diplomats said the most workable option now on the table was a staged arrangement — Iran allowing ships through Hormuz in return for an end to the blockade and, potentially, access to frozen assets.

“One way forward would be to solve the crisis in stages. The first would be to end the blockade and reopen Hormuz,” a senior Iranian official said on the sidelines of the UN General Assembly.

Such a deal would require Donald Trump to accept another interim arrangement, after a previous understanding collapsed in July. The US president has suggested a fuller agreement might only be reached after November’s midterm elections. A senior European official said Iranian negotiators arrived in New York “with a very long list of demands”.

The White House, for its part, has shown little urgency. “Iran is desperate for a deal, President Trump holds all the cards and will make whatever decision is best for the United States,” a White House official said, adding that “crushing sanctions” and “one of the most successful blockades in history” had left Tehran “completely broke”.

Trump, the official suggested, was content to let an “inevitable Iranian collapse” continue rather than be rushed into concessions.

Dennis Ross, a former US negotiator, put the chances of a deal before the midterms at roughly 30 per cent, though he noted both sides had reasons to want an agreement sooner rather than later.

“The blockade is what’s really squeezing the Iranians. It’s strangling them,” he said. A pre-election deal could suit Trump too, easing Gulf tensions and helping bring down petrol prices at home. After the vote, Ross said, the president may feel freer to escalate pressure or consider military options.

Tehran, meanwhile, is hedging. Even as it explores a diplomatic exit, Iran is preparing for the possibility of renewed conflict, accusing Washington of using the blockade and the threat of force as instruments of coercion.

“Our fingers are on the trigger,” the senior Iranian official said. “The Americans know what they need to do but, because of their excessive demands, the chances of diplomacy resolving this are extremely low.”

Regional sources said Iran was prepared to drop, or at least set aside, its demand for transit fees on shipping through Hormuz in order to prioritise ending the blockade.

“Iran is not primarily focused on imposing tolls in Hormuz but on preserving its administrative control of the waterway,” the senior official said. “Iran may be willing to defer the toll issue, but they are not going to give up administrative control of the strait.”

At the heart of the diplomacy in New York is a fundamental tension. Washington wants pressure to produce concessions, Tehran wants pressure removed before making them, and the Gulf states want the conflict resolved without allowing the region’s strategic waterways to become enduring bargaining chips.

In a separate meeting in New York, Gulf leaders pressed Trump for clarity on his strategy beyond the midterms, including whether Washington would resume military action if Iran refused to negotiate.

They made clear their rejection of any Iranian control over Hormuz, insisting freedom of navigation be restored and that the strait must not become a tool of coercion — while also urging de-escalation, reflecting Gulf states’ desire to stay out of further confrontation.

“It’s still not clear what Trump’s endgame is, or what the alternative to the pressure campaign would be,” said Ebtessam al-Ketbi, president of the Emirates Policy Center in Abu Dhabi.

“The Iranians, by contrast, know what they want. They’re reshaping the regional landscape through Hormuz and Bab al-Mandeb with a clear objective, while Washington has yet to define its roadmap.”

Alan Eyre, another former US negotiator, warned that the blockade’s pressure could backfire: rather than softening its position, he said, Tehran was more likely to escalate, believing that any sign of weakness would prove fatal to the regime.

Adding to the diplomatic pressure, a coalition of 80 countries called at the UN on Thursday for the full restoration of maritime navigation in the Gulf.

“We call for the full restoration of navigational rights and principles without delay,” said Bahrain’s Foreign Minister Abdullatif bin Rashid al-Zayani, reading a joint statement to journalists.

UAE suspends Iranian airline flights

In a further sign of tightening pressure, the United Arab Emirates announced on Thursday that it would no longer accept flights operated by Iranian carriers, aligning itself with US sanctions targeting Iran’s aviation sector.

Dubai has long been a key destination for Iranian airlines, serving multiple daily flights and a large Iranian community with close business ties to the emirate.

The UAE’s General Civil Aviation Authority said the suspension was “based on the US sanctions imposed on Iranian airlines preventing them from using airports around the world”.

The UAE, which was hit by thousands of Iranian missiles and drones early in the war, suspended trade and financial exchanges with Iran last month.

On Wednesday its central bank blocked transactions with Iran’s Bank Melli, citing breaches of money-laundering, terrorism-financing and arms-proliferation rules.

One passenger told AFP an Iran Airtour flight from Tehran to Dubai was cancelled shortly before departure on Thursday, after tickets had already been issued.

Washington imposed sanctions on Iran’s aviation sector in early September, giving airlines until Wednesday to comply — including by halting the refuelling of Iranian aircraft — or risk being cut off from the dollar-based financial system.

Iran’s main carriers were forced to cancel international flights this week as neighbouring states adopted similar restrictions; Turkmenistan turned back a flight from Tehran to Dushanbe on Thursday, an Iranian aviation official said, because it had not authorised the airline to fly.

A handful of smaller Iranian carriers continue to operate abroad, notably to Armenia and to China, which has declined to follow Washington’s sanctions.

Published in Dawn, September 25th, 2026