February 10, 2026 - Daily Capital Mail

Saudi capital sought as debt risks stay high

February 10, 2026 capital

ISLAMABAD: Pakistan is seeking to deepen trade and investment ties with Saudi Arabia while pressing for stronger global coordination to manage rising sovereign debt risks, as Finance Minister Senator Muhammad Aurangzeb highlighted both priorities during engagements at the AlUla Conference for Emerging Market Economies 2026. Speaking to Arab News on the sidelines of the conference, Aurangzeb described Saudi Arabia as a longstanding partner and said bilateral relations had remained resilient despite global geopolitical tensions, adding that Pakistan now wants to shift the focus of the relationship from aid and support…

Govt seeks Russian support to revive PSM

February 10, 2026 capital

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan on Monday discussed the revival of Pakistan Steel Mills (PSM) and cooperation during a meeting with Pakistan’s ambassador to Russia, as the government seeks foreign investment to restart the asset. According to a statement issued by the Ministry of Industries and Production, the meeting focused on strengthening Pakistan-Russia economic ties, with emphasis on the revival and modernisation of PSM. Akhtar Khan said the government was pursuing Prime Minister Shehbaz Sharif’s vision of restoring the steel mills as a viable…

Moody’s cuts bank outlook to stable

February 10, 2026 capital

KARACHI: Against the State Bank of Pakistan’s (SBP) confidence in the banking system, Moody’s has revised down the outlook for Pakistan’s banking system from “positive” to “stable,” citing structural vulnerabilities, particularly banks’ heavy exposure to government securities. SBP Governor Jameel Ahmad, in a recent in-camera briefing, stressed that local banks are “far better capitalised than what is required by international standards” and maintain buffers well above regulatory minimums, enabling them to absorb potential shocks. Pakistan’s banking sector lending is highly concentrated in government treasuries, said Sana Tawfiq, Head of Research…

‘No reopening Chinese energy debt’

February 10, 2026 capital

ISLAMABAD: Planning Minister Ahsan Iqbal on Monday ruled out renegotiating over $15 billion in Chinese energy debt deals and said that Beijing should not be victimised for Pakistan’s own faults, taking a clear stance after multiple attempts by the finance and power ministries to reopen these contracts failed. “Pakistan should honour its commitments and others should not be blamed for our past mistakes,” said Iqbal, while responding to a question during a press conference here. The minister clarified that reopening these deals would increase Pakistan’s financial risk premium and compromise…

SC appoints Salman Safdar friend of court, orders access to Imran Khan

February 10, 2026 capital

ISLAMABAD: The Supreme Court on Tuesday appointed Advocate Salman Safdar as a friend of the court to submit a report on the living conditions and health of Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan, who is currently jailed at Adiala Jail. At the outset of the hearing, Chief Justice of Pakistan (CJP) Yahya Afridi said Safdar should be treated with respect and not be made to wait outside the jail. “It is expected that our friend of the court will be given access to the PTI founder at Adiala Jail with…

Sehwan drew over 3m devotees in 3 days: CM

February 10, 2026 capital

HYDERABAD: The three-day devotional festivities in Sehwan, marking the 774th Urs of Hazrat Lal Shahbaz Qalandar (RA), concluded on Monday, with Sindh Chief Minister Syed Murad Ali Shah claiming that over three million devotees attended the event. CM Shah, who performed the closing ceremony at the shrine, said the Urs proceeded despite security concerns following the recent suicide bombing at a Rawalpindi mosque. Over 5,000 police officers and 300 Rangers personnel, along with CCTV and drone surveillance, were deployed, ensuring the large spiritual congregation concluded without incident. Cultural, literary, musical,…

CM pays tribute to MALC’s legacy of healing & hope

February 10, 2026 capital

KARACHI: Chief Minister Murad Ali Shah on Monday paid rich tribute to the Mary Adelaide Leprosy Centre (MALC) for its decades-long humanitarian services, saying that celebrating its Platinum Jubilee alongside the 73rd World Leprosy Day was a tribute to healing, hope and humanity. Addressing a ceremony held at a local hotel, the chief minister said MALC’s journey from a leprosy control programme to a leading humanitarian institution was truly commendable. The event was attended by the German consul general, MALC Chief Executive Officer Marvin Lobo and other dignitaries. The chief…

Solar dream dims as net metering winds down

February 10, 2026 capital

ISLAMABAD: The government of Prime Minister Shehbaz Sharif may face political backlash as solar net metering becomes virtually dead after the National Electric Power Regulatory Authority (Nepra) abolished the exchange of electricity units, dealing a blow to consumers hoping to shift to renewables. At present, the buyback rate for solar net generation stands at Rs25.9 per unit, which may be reduced to Rs11 per unit, while the contract period has been cut from seven to five years. The burden of Independent Power Producers (IPPs) capacity payments is now being shifted…

CJ stresses need for strong justice system

February 10, 2026 capital

ISLAMABAD: Chief Justice Yahya Afridi on Monday underscored the importance of a strong and credible justice system for sustainable development and democratic governance. He expressed these views during a meeting with United Nations Resident Coordinator in Pakistan Mohamed Yahya and a delegation comprising country representatives of the United Nations Development Programme (UNDP), UN Women, UNICEF, the United Nations Office on Drugs and Crime (UNODC), and UNFPA. The top judge shared perspectives on ongoing reform initiatives aimed at improving access to justice, enhancing institutional efficiency, and ensuring a justice system that…

Senate panel slams CCI over provincial rights

February 10, 2026 capital

ISLAMABAD: The Senate Functional Committee on Devolution on Monday expressed concern over what it termed a failure to implement provinces’ constitutional rights and powers under the 18th Amendment. The panel met under the chairmanship of Senator Zamir Hussain Ghumro, a statement said. The committee was briefed about the implementation status of various provisions of the 18th Constitutional Amendment, as well as on the resources, budget, and staff of the Ministry of Petroleum, including its corporations and attached departments. Officials of the Council of Common Interests (CCI), the secretary of the…