KARACHI: Repeated closures of the Pakistan-Afghanistan border have brought bilateral medicine trade to a standstill, leaving hundreds of trucks stranded and “jeopardising” nearly $200 million worth of pharmaceutical exports, industry sources said.

Industry representatives warn that the ongoing blockade at Torkham and Chaman is crippling pharmaceutical supplies to Afg­hanistan, spoiling temperature-sensitive drugs, and exposing Pakistan to massive commercial losses at a time when exporters cannot afford another shock.

They argue that Afg­h­anistan remains Pakistan’s largest overland trading partner and the main transit route for onward access to Uzbekistan, Tajikistan, Turkmenistan, and Kaz­a­khstan. Each shutdown cuts Pakistan off from these landlocked economies, disrupts regional connectivity projects, and undermines multilateral investments tied to the Pakistan-Uzbekistan-Afghanistan railway and other corridor initiatives.

“The closures are now so frequent that they have become a structural threat, forcing countries investing in this route to consider more predictable alternatives. For Pakistan’s pharmaceutical sector, the impact is already severe,” said Tauqeer ul Haq of the Pakistan Pharmaceutical Manufacturers Association (PPMA).

“Almost all exports to Afghanistan have stopped, and containers carrying antibiotics, insulin, vacci­nes, cardiovascular dru­gs, and other essential medicines are stuck at border crossings, dry ports, and warehouses. The delays have pushed local manufacturers toward irreversible financial losses. In one case, a single firm has products worth Rs850 million stranded at Torkham and Chaman, while more than fifty companies face similar setbacks.”

Published in Dawn, December 6th, 2025

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Friday signed three contracts for financing totalling $61.8 million (approximately Rs17 billion) to advance three development projects to the implementation stage, which include the $2 billion Karachi-Rohri section of the Main Line railway (ML-1).

An official statement said the two sides signed Project Readiness Financing (PRFs) papers for the Karachi-Rohri section of ML-1, Quetta Bus Rapid Transit and Balochistan Water Resources Development Sector – Additional financing.

Under these commitments, ADB would provide $10m to prepare project documentation for the $2bn ML-1 section, $3.8m for the $125m Quetta BRT, and $48m for Balochistan Water Resources Development.

At the signing ceremony, Secretary of Economic Affairs Humair Karim welcomed ADB’s support for these critical projects, which are aimed at significantly contributing to Pakistan’s long-term and sustainable economic growth, addressing the vital urban infrastructure needs of Quetta city, and enhancing agricultural productivity in Balochistan Province. He called upon the Ministry of Railways and the Government of Balochistan to utilise the financing in a timely and effective manner to ensure successful implementation.

ADB’s country director, Ms Emma Fan, appreciated the federal government’s strong commitment to these projects and noted that the Railways Improvement Project PRF was a key step toward railways modernisation.

The Central Development Working Party had last month approved the Rs1.24bn ($3.8m) ADB financing for a feasibility study, design, and procurement standards and documentation.

Also, last month, the federal government announced that it had secured a $2bn financing package from ADB to commence the Karachi-Rohri segment of the Karachi-Peshawar mainline (ML-1) next year, aiming to complete it before December 2028 to facilitate transportation from the multi-billion-dollar Reko Diq Copper and Gold Project.

Likewise, the ADB had last month approved $48m loan for the Balochistan Water project to support the completion of critical project components, including the Churi Infiltration Gallery subproject, development of the Siri Toi Dam command area, and watershed management activities, which were previously delayed due to budgetary constraints. These components are considered vital for enhancing irrigation efficiency, promoting sustainable water use, and mitigating soil erosion caused by floods.

Because of inherent project implementation challenges, the government has started raising international financing to avoid project delays and cost overruns. The ADB’s PRFs are normally intended to support project preparation before formal offtake, by identifying various components and activities during the implementation stage.

For example, the ML-1 PRF enables the ADB and Pakistan’s relevant agencies to work closely to improve implementation readiness and the timely processing of subsequent major loans needed for project execution. PRFs are also used for reform and institutional capacity-building activities to support sustainability, including the development of business plans, compliance with international financial reporting standards, digitisation, and consulting services.

According to the ADB, PRF is a fast and flexible modality that funds activities for project preparation, such as detailed engineering design, capacity building, limited project startup support, and project design pilot testing. Such work ensures high project readiness and minimises startup delays during the initial phase of project implementation.

Published in Dawn, December 6th, 2025

ISLAMABAD: The selection committee on Friday conducted interviews of 27 candidates for the appointment of three commissioners to the Securities and Ex­change Commission of Pakistan (SECP). Nine candidates will be shortlisted for consideration by the federal cabinet.

The committee — comprising Finance Minister Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, Secretary to the Prime Minister Jehanzeb Khan, Finance Secretary Imdadullah Bosal and Law Secretary Raja Naeem — interviewed the applicants and will finalise a panel of nine names, three nominees for each seat.

The three incumbent commissioners — Akif Saeed, Abdul Rehman Warraich and Mujtaba Lodhi — are set to retire next week. All three, including Mr Saeed who currently serves as SECP chairman, have applied for reappointment. Once finalised, the shortlisted names will be forwarded to the federal cabinet, which will make the final selection.

The appointment process comes amid heightened scrutiny of SECP’s governance practices, with questions raised in parliament and the media about discretionary perks, internal discord and regulatory inconsistency.

The regulator has recently drawn criticism over a significant increase in benefits awarded to senior management, including the payment of Rs7 million for a retiring commissioner’s Islamabad Club membership as a private member.

Published in Dawn, December 6th, 2025