Pakistan

BingX Becomes First Exchange to Offer OpenAI Pre-IPO Airdrop
Pakistan

BingX Becomes First Exchange to Offer OpenAI Pre-IPO Airdrop

Pakistan, May 20, 2026 – BingX, a leading cryptocurrency exchange and Web3-AI company, today launched OpenAI pre-IPO airdrop campaign on its platform, expanding user access to private-market exposure tied to one of the world’s most prominent artificial intelligence companies. The campaign marks BingX as the first exchange to offer an OpenAI pre-IPO airdrop, and follows the platform’s earlier rollout of SpaceX pre-IPO trading, which received strong market engagement from users. From May 19 to May 28 (UTC+8), the airdrop campaign featured a total prize pool of more than 300,000 USDT. Eligible users can participate in a variety of trading events to claim airdrop rewards, with bonuses available for active traders, first-time users, and BingX VIP members. The launch reflects increasing investor demand for access to high-growth private-market opportunities that have traditionally remained inaccessible to retail participants in the crypto space. By enabling pre-IPO trading and tokenization tied to globally recognized technology firms, BingX aims to lower barriers to participation while broadening its range of alternative investment offerings. “Through the OpenAI pre-IPO airdrop campaign, we want to give users more direct opportunities to participate in one of the market’s most closely watched AI growth stories.” said Pablo Monti, Spokesperson of BingX. “By combining pre-IPO exposure with a large-scale airdrop incentive program, we’re lowering barriers to participation and creating added value for both new and existing users. This campaign reflects our broader commitment to making high-profile investment opportunities more accessible, engaging, and rewarding for our global community.”

Pakistan Invites Investors for Privatisation of FESCO, GEPCO and IESCO
Pakistan

Pakistan Invites Investors for Privatisation of FESCO, GEPCO and IESCO

The Government of Pakistan has officially invited Expressions of Interest from local and international investors for the privatisation of three major electricity distribution companies including Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company. The announcement was made by the Privatisation Commission as part of the government’s broader economic reform agenda aimed at improving efficiency, attracting investment, and modernising Pakistan’s energy sector. Govt Offers Up to 100 Percent Shareholding According to an official press release, investors will have the opportunity to acquire between 51 percent and 100 percent shareholding along with management control in each of the three electricity distribution companies. The government stated that the privatisation process aims to improve operational performance, strengthen service delivery, and encourage sustainable growth within the power sector. Authorities believe private sector participation can help reduce losses and improve the financial health of distribution companies. FESCO, GEPCO and IESCO Serve Over 14 Million Consumers The three DISCOs collectively provide electricity to more than 14 million consumers across major industrial, commercial, and urban areas of Punjab and the Islamabad region. FESCO operates in Faisalabad and surrounding districts, while GEPCO supplies electricity to Gujranwala and nearby regions. IESCO serves Islamabad and several adjoining areas. These companies manage extensive electricity distribution networks and hold strategic importance in Pakistan’s energy infrastructure due to their large customer base and presence in key economic corridors. Transparent and Investor Friendly Process Planned The Privatisation Commission said the entire process will follow international best practices and will remain transparent, competitive, and investor friendly. Interested investors can apply individually or form consortiums to participate in the bidding process. However, they must meet the qualification criteria mentioned in the Request for Statement of Qualification documents. Officials clarified that investors must submit separate applications for each distribution company. Submission Deadlines Announced The government has also announced separate deadlines for submitting Expressions of Interest for each company. Applications for FESCO must be submitted by July 7, 2026. The deadline for GEPCO applications is August 6, 2026, while investors interested in IESCO have until September 7, 2026, to submit their documents. An online investor briefing session will also take place jointly by the Privatisation Commission and the financial adviser handling the transaction. The session will explain investment opportunities, transaction details, and procedural requirements for potential buyers. Reforms Planned in Tariff and Business Structure The government said it plans to engage with investors and stakeholders to improve the existing tariff structure, Multi Year Tariff regime, and overall business framework of DISCOs. Authorities aim to introduce a performance and efficiency based return system that encourages better management and operational improvements. Officials also want private buyers to utilise existing infrastructure and customer networks to expand business opportunities within the power sector. The reforms are expected to accelerate private sector participation and improve the reliability and efficiency of electricity supply services in Pakistan. Govt Sees Privatisation as Key Energy Reform Step The government considers the privatisation of electricity distribution companies a major step toward addressing long standing issues in the power sector, including financial losses, inefficiencies, and poor service delivery. Officials believe private investment and modern management practices can help strengthen the sector, support fiscal sustainability, and contribute to long term economic stability. The move also aligns with Pakistan’s wider economic reform strategy focused on attracting foreign investment and improving the performance of state owned enterprises.

Pakistan Okays 30% PNSC Stake Sale to NLC, Logistical Wing of Army, with Management Control to Improve Efficiency
Pakistan

Pakistan Okays 30% PNSC Stake Sale to NLC, Logistical Wing of Army, with Management Control to Improve Efficiency

The Pakistani government has granted in-principle approval for the sale of 30 percent shares of the Pakistan National Shipping Corporation (PNSC) to the National Logistics Corporation (NLC), logistical arm of the Pakistan Army, along with full management control. Read More: https://theboardroompk.com/china-investment-in-pakistan-falls-29-percent-despite-leading-foreign-direct-investment-in-fy26-2/ This strategic move aims to revitalize the national shipping sector and integrate it with broader logistics operations. Boost for Maritime Sector Experts view this restructuring as a timely step to address longstanding challenges in Pakistan’s shipping industry. PNSC, the country’s flag carrier, has faced fleet limitations and competition from foreign operators for years. Handing management to NLC is expected to bring operational efficiency and fresh investment. Integration with NLC Strengths NLC already dominates land-based logistics with its extensive trucking network across Pakistan. Combining sea and land operations under one umbrella could create seamless end-to-end supply chain solutions. This synergy is anticipated to reduce costs and improve cargo handling timelines significantly. The decision follows recommendations from a government task force on maritime affairs. By aligning PNSC with NLC, authorities hope to capitalize on emerging transshipment and regional trade opportunities in the Arabian Sea and beyond. Finance Minister Muhammad Aurangzeb chaired the Economic Coordination Committee (ECC) meeting that approved the proposal submitted by the Ministry of Maritime Affairs.The ECC directed concerned departments to expedite formalities, including valuation of the 30 percent stake. Once completed, management control will shift from the Ministry of Maritime Affairs to NLC. Economic and Strategic Implications Pakistan spends billions of dollars annually on foreign shipping services.Strengthening PNSC through this partnership could help retain a larger share of freight revenue domestically. Analysts project potential savings in foreign exchange and creation of new jobs in maritime and logistics sectors. Improved fleet modernization and maintenance programs are also on the cards under NLC’s stewardship. The move aligns with broader government efforts to enhance privatization and public-private synergies in strategic sectors. Observers note that NLC’s disciplined management style could bring transparency and accountability to PNSC operations. Background on PNSC Established decades ago, PNSC serves as Pakistan’s national shipping line with a fleet focused on cargo transport. It has played a vital role during critical times but struggled with expansion due to funding constraints. Listing on the Pakistan Stock Exchange, the company holds significant market value and public interest. Transfer of 30 percent stake maintains government majority while introducing professional management.This hybrid model is seen as a balanced approach to reform without full privatization. Future Outlook With global trade routes shifting, Pakistan aims to position itself as a key player in regional maritime logistics. Gwadar Port and CPEC-related developments provide additional momentum to these plans.Successful implementation could set a precedent for similar restructuring in other state-owned enterprises. Stakeholders await details on the exact sale price and timeline for the transition. Industry players have welcomed the announcement, hoping it leads to fleet expansion and better international competitiveness. Overall, this decision marks a significant chapter in Pakistan’s efforts to modernize its shipping industry.

PTA Warns WhatsApp Users About Inactive and Unregistered SIMs
Editor pick, Pakistan

PTA Warns WhatsApp Users About Inactive and Unregistered SIMs

The Pakistan Telecommunication Authority on Tuesday warned users that WhatsApp accounts connected to inactive or unregistered SIM cards could soon become inaccessible if account details were not updated in time. In an advisory shared on X, the telecom regulator urged citizens to ensure that their WhatsApp accounts remained linked to active and properly registered SIM cards. The authority stressed that users must take responsibility for their digital identity and mobile connections. The PTA stated that WhatsApp accounts associated with blocked, cancelled, inactive, or unregistered SIMs could face serious access issues in the near future. The regulator advised users to immediately check their SIM registration status and complete biometric verification where necessary. PTA Urges Users to Verify SIM Registration The telecom authority instructed users to visit the nearest franchise or customer service centre if they needed to verify SIM ownership or registration details. Officials also advised citizens to transfer their WhatsApp accounts to an active and verified SIM if their current number was no longer functional. According to the PTA, users should not wait until they unexpectedly lose access to their WhatsApp accounts. The authority highlighted that a mobile number now serves as an important part of a person’s digital identity in modern communication systems. The advisory comes as digital security and identity verification continue to gain importance across Pakistan’s telecom sector. SIM Ownership Rules Reiterated The PTA also reminded citizens that all SIM cards must remain registered under the name of the actual user. Last year, the authority had already issued a warning against using SIM cards registered to another person. The regulator stated that using someone else’s SIM card violates telecom regulations and may result in legal or administrative action. It further clarified that the officially registered subscriber would remain fully responsible for any misuse linked to that SIM. Officials advised telecom consumers to use their mobile connections responsibly and avoid sharing their SIMs with others. PTA Warns Against Fake News and Misleading Content The authority once again urged citizens to act responsibly while using social media and digital platforms. In its statement, the PTA warned against sharing or forwarding unverified, inflammatory, or misleading information online. According to the regulator, such content could directly or indirectly harm public order, national interest, or state institutions. The PTA encouraged users to share only authentic information obtained from official or reliable sources. The authority also advised citizens to avoid spreading rumours and fake news on messaging applications and social media platforms. Growing Focus on Digital Responsibility The latest advisory reflects the PTA’s increasing focus on digital accountability and cybersecurity awareness in Pakistan. As millions of Pakistanis rely on WhatsApp for communication, business, and social interaction, authorities are placing greater emphasis on secure mobile registration and identity verification. Industry experts believe the move could help reduce fraud, illegal SIM usage, and misuse of messaging platforms. At the same time, users are being encouraged to remain vigilant about their digital accounts and telecom records. The warning has already generated significant discussion online, with many users expressing concern over losing access to their WhatsApp accounts linked to inactive numbers.

Islamabad Court Sentences Umar Hayat to Death in Sana Yousaf Murder Case
Pakistan

Islamabad Court Sentences Umar Hayat to Death in Sana Yousaf Murder Case

Islamabad court on Tuesday sentenced Umar Hayat to death in the high profile Sana Yousaf murder case. The verdict came months after the brutal killing of 17 year old TikToker Sana Yousaf in Islamabad’s Sector G 13 shocked the country and sparked widespread outrage on social media. Additional Sessions Judge Afzal Majoka announced the decision after hearing arguments from both the prosecution and the defense. The court found Hayat guilty of murdering Sana Yousaf and ordered capital punishment. The case remained in the spotlight throughout the trial due to the victim’s popularity on TikTok and growing public pressure for justice. Many social media users had closely followed court proceedings since the murder took place in June 2025. Accused Rejected Confessional Statement A day before the verdict, Umar Hayat refused to accept his confessional statement recorded before a magistrate. During Monday’s hearing, he claimed that he did not even know what a confessional statement meant. Hayat alleged that police officials had falsely implicated him in the case under pressure from Sana Yousaf’s TikTok followers. He argued before the court that investigators failed to produce concrete evidence linking him to the murder. While recording his statement, the accused claimed that police officers forcibly took him to the police station and tortured him. He further alleged that officials forced him to sign seven blank pages. Hayat also denied being present in Sector G 13 on the day of the murder. He insisted that he had never visited the area when the crime took place. Murder Shocked Islamabad The Sana Yousaf murder case gained national attention after the teenage TikToker was shot dead inside her home in Islamabad. According to investigators, the attacker entered the house, opened fire at close range, and escaped immediately after the incident. Police said Sana suffered fatal gunshot wounds during the attack. Rescue teams shifted her body for post mortem examination while investigators launched a manhunt to arrest the suspect. Authorities later registered a murder case against Umar Hayat at Sumbal Police Station. Police accused him of killing Sana and snatching her mobile phone before fleeing the scene. The murder triggered strong reactions across Pakistan. Social media users demanded swift action and called for strict punishment for those involved in crimes against women and content creators. Trial Continued for Several Months Court proceedings in the Sana Yousaf murder case continued for several months. Prosecutors presented evidence, witness testimonies, and investigation records during the hearings. In September, Umar Hayat formally denied all charges and pleaded not guilty before the court. His legal team repeatedly argued that police investigations contained irregularities and lacked solid proof. However, prosecutors maintained that evidence collected during the investigation clearly established Hayat’s involvement in the murder. They urged the court to award maximum punishment considering the seriousness of the crime. The court ultimately ruled in favor of the prosecution and announced the death sentence on Tuesday. Public Reaction After Verdict The verdict received strong reactions online soon after the announcement. Many social media users welcomed the court’s decision and described it as an important step toward justice for Sana Yousaf and her family. Rights activists also renewed calls for stronger protection of women and young social media personalities facing harassment and threats. Several users said the case highlighted growing concerns regarding violence against women in Pakistan. The Sana Yousaf murder case remained one of the most widely discussed criminal cases in the country over the past year. The judgment now marks a major development in a case that drew nationwide attention and emotional public response.

Operation Nijat-e-Mehran Killed Hundreds of Alleged Dacoits in Sindh, IG Tells Businessmen
Pakistan

Operation Nijat-e-Mehran Killed Hundreds of Alleged Dacoits in Sindh, IG Tells Businessmen

KARACHI: Inspector General Police Sindh Jawed Alam Odho Tuesday revealed that under the ongoing “Operation Nijat-e-Mehran” launched against heavily armed criminal gangs operating in Sindh’s katcha areas, at least 41 notorious dacoits had been killed, 123 arrested in injured condition and over 320 surrendered before law enforcement authorities during the last four months. Addressing the business community during his visit to Karachi Chamber of Commerce and Industry, IGP stated that the successful operation had restored the writ of the state in areas previously considered inaccessible and had significantly improved the security of key trade and transport routes linking Karachi with the rest of the country. Chairman Businessmen Group Zubair Motiwala, Vice Chairman BMG Jawed Bilwani, President KCCI Rehan Hanif, Senior Vice President Muhammad Raza, Vice President Arif Lakhani, Former Presidents Younus Muhammad Bashir, Shamim Ahmed Firpo, Muhammad Idrees and Iftikhar Ahmed Sheikh, Chairman Law & Order Subcommittee Akram Rana, Chief Police Chamber Liaison Committee Hafeez Aziz and others attended the meeting. He noted that Karachi’s overall security environment had improved considerably in recent years, while incidents of street crime had also witnessed a declining trend. However, he stressed that continuous vigilance, institutional coordination and constructive feedback from stakeholders remained essential to sustain and further improve the situation. Discussing Karachi’s traffic challenges, the IGP observed that one of the city’s biggest structural issues was the concentration of wholesale markets and freight movement within densely populated commercial areas. He stressed the need for long-term urban planning, including the gradual relocation of major wholesale markets outside the city center and the development of dedicated expressways connecting industrial zones and ports with highways. He also highlighted the importance of expanding road connectivity through projects such as the Northern Bypass expansion and elevated expressways linking Karachi and Bin Qasim Ports with industrial zones. IGP informed participants that Sindh Police had intensified enforcement measures through Safe City surveillance systems and AI-based monitoring technologies to identify traffic violations, fake or concealed number plates and reckless driving. He warned that vehicles using tampered number plates would face strict legal action, including FIR registration and vehicle impoundment. Addressing the issue of narcotics, IGP described drugs as one of the gravest threats facing society and the younger generation. He disclosed that during recent anti-narcotics operations, Sindh Police had arrested more than 1,700 drug dealers and seized significant quantities of heroin, hashish and other narcotics. Referring to the recent arrest of a high-profile female drug supplier ‘Pinky’, the IGP cautioned against glamorizing criminals and drug traffickers through sensationalized portrayals on social media and other platforms. He stressed that such individuals should not be projected as glamorous or heroic figures, as this could negatively influence young people and encourage criminal behavior. On the issue of encroachments and land grabbing, Jawed Alam Odho informed participants that the Government of Sindh had established high-level committees under the supervision of the Home Department and Commissioner Karachi to address complaints related to illegal occupation of land and encroachments. He invited KCCI to nominate a focal person to coordinate with authorities for prompt resolution of complaints faced by the business community. He further announced that Sindh Police was working with the Government of Sindh to modernize Karachi’s traffic management system through smart and dynamic traffic signals, improved road signage, better road markings and advanced traffic engineering practices. A proposal had also been submitted to establish a professional traffic management company under a public-private model aimed at improving Karachi’s urban mobility infrastructure. Chairman BMG Zubair Motiwala, while appreciating the improved law & order situation in Karachi, stated that incidents of car snatching, motorcycle theft and street crime had declined considerably compared to previous years. The city’s overall security environment had witnessed visible improvement during the past several months, which was encouraging for the business community and citizens alike. Zubair Motiwala, however, observed that narcotics had emerged as one of the gravest challenges facing society, particularly the younger generation. He expressed serious concern over the growing use of drugs in universities, colleges and schools, and urged law enforcement agencies to intensify efforts against drug suppliers and organized narcotics networks. He also drew attention to reports regarding increasing drug-related activities in certain gated communities and residential colonies, where groups of youngsters frequently gather due to the relatively secure and closed environments. He requested the police authorities to closely monitor such areas and take timely preventive measures to curb the spread of narcotics. Vice Chairman BMG Jawed Bilwani stated that the smart signal system, which automatically adjusts according to traffic flow, had already demonstrated positive results at PIDC Traffic Signal hence, it should immediately be expanded to other major arteries of Karachi. He observed that such systems would be especially beneficial during late-night hours when traffic remains minimal on certain roads, thereby reducing unnecessary waiting time and improving traffic flow. Jawed Bilwani also stressed the need for restructuring and modernizing the Traffic Engineering Bureau, stating that the institution had become ineffective in addressing Karachi’s growing traffic challenges. He suggested that the bureau should either be placed under the administrative control of Karachi Metropolitan Corporation or integrated more closely with traffic police operations to ensure practical and timely traffic management decisions. He further emphasized the urgent need to expedite the Safe City Project, terming it critical for improving both traffic management and crime control in Karachi. He said the project would significantly ease the operational burden on traffic police personnel while also strengthening the overall capacity of law enforcement agencies through modern surveillance and monitoring systems. President KCCI Rehan Hanif, while welcoming IGP Sindh, stated that incidents of street crimes, short-term kidnappings and other criminal activities, which had once created an atmosphere of fear among citizens and the business community, have significantly declined due to effective policing and sustained efforts by law enforcement agencies. Referring to the issue of dacoits operating in katcha areas, he noted that the situation on highways and intercity travel routes has improved considerably as compared to the past. Highlighting the growing concern of heavy traffic accidents

Pakistan as Highest Macro-Financial Risk Economy in Asia-Pacific Under Prolonged Middle East Conflict: S&P Global Market Intelligence
Pakistan

Pakistan as Highest Macro-Financial Risk Economy in Asia-Pacific Under Prolonged Middle East Conflict: S&P Global Market Intelligence

Karachi, 18 May – S&P Global Market Intelligence has identified Pakistan as the economy facing the highest macro-financial stress risk under a prolonged Middle East conflict scenario. This is part of the latest assessment of major Asia-Pacific (APAC) economies. The outlook projects Pakistan’s real GDP growth to ease to 3.2% in fiscal year 2027, with the balance of risks tilted to the downside, driven primarily by the ongoing war in the Middle East. Read More: https://theboardroompk.com/pakistan-services-trade-surplus-faces-sharp-monthly-drop-despite-strong-export-growth/ The assessment underscores Pakistan’s near-complete reliance on Gulf crude supplies, heavy dependence on workers’ remittances from Gulf Cooperation Council (GCC) countries, large external financing needs, and limited fiscal space as factors that collectively amplify the country’s exposure to regional instability. Ahmad Mobeen, Principal Economist, S&P Global Market Intelligence said, “Our assessment of major APAC economies shows that Pakistan is likely to experience the most acute effects of a prolonged Middle East war shock due to its high dependence on imported energy and industrial inputs from the region combined with improving but still limited external and fiscal buffers. Higher energy prices are likely to reverse recent gains on the current account, increase depreciation pressures, and keep inflation elevated. While the initial policy responses helped temporarily mitigate the supply shock and slow the pass-through to households and businesses, the next policy phase is likely to be defined by increasingly difficult trade-offs between maintaining stability, supporting growth, and continuing fiscal consolidation measures under existing IMF programs without additional bilateral and multilateral funding.” On the sectoral front, higher energy prices, supply chain constraints, and trade route disruptions are expected to weigh heavily on manufacturing and export growth, while simultaneously driving up imported input cost inflation. The report also flags the risk of fertilizer shortages and a moderation in remittance growth, both of which would bear directly on farmers’ incomes and crop yields. The second-round effects of energy price inflation are projected to compress private consumption and spill over into the services sector, with transport and retail particularly exposed. Pakistan’s external financing position presents a similarly challenging picture. While external buffers have strengthened in the near term, aided by a new Saudi deposit, anticipated rollovers of existing facilities, and continued access to IMF-linked multilateral and bilateral financing and refinancing risks remain elevated. The recent USD 3.5 billion repayment to the UAE underscores the scale of forthcoming debt obligations, with Market Intelligence projecting gross external financing needs to average approximately USD 24 billion annually over the 2026–30 period.

NADRA Center Inaugurated at DHA City Karachi
Pakistan

NADRA Center Inaugurated at DHA City Karachi

DHA City Karachi | May 18, 2026: A new National Database and Registration Authority Center was formally inaugurated at DHA City Karachi to provide residents of Karachi North with easier access to essential registration and documentation services. The state-of-the-art facility is equipped with all major NADRA services and online facilities, including CNIC issuance, family registration, and other important public services. The initiative aims to improve accessibility and reduce the need for residents to travel into central Karachi for official documentation processes. The inauguration ceremony was attended by Aamir Ali Khan and Muhammad Kashif Naeem, who also served as the chief guest. During the visit, the officials reviewed the facilities available at the center and interacted with the staff. Speaking on the occasion, Muhammad Kashif Naeem said DHA City is committed to providing modern facilities not only for its residents but also for surrounding communities. He revealed that the NADRA Center is the first step in a broader plan, adding that a Passport Office and a Traffic License Branch will also be established in the near future to further ease public access to essential services. He also announced the launch of a free EV bus service for visitors traveling from the main gate to the NADRA Center. According to him, DHA City has officially transformed into a smart and sustainable city aligned with future urban development needs. DG NADRA Sindh Aamir Ali Khan thanked the DHA City administration and appreciated the rapid establishment of the facility, expressing confidence that the center would provide efficient and high-quality services to the public.

National Bank of Pakistan Secures 7 Best Practice Awards at GDEIB Awards 2026
Pakistan

National Bank of Pakistan Secures 7 Best Practice Awards at GDEIB Awards 2026

Karachi 18th May 2026 — National Bank of Pakistan (NBP) has secured 7 Best Practice Awards at the Global Diversity, Equity and Inclusion Benchmarks (GDEIB) Awards 2026, marking an important recognition of the Bank’s continued efforts to promote diversity, equity, and inclusion across its organizational landscape. Read More: https://theboardroompk.com/pakistan-services-trade-surplus-faces-sharp-monthly-drop-despite-strong-export-growth/ Representing the Bank at the ceremony, Ms. Saman Abbasi, EVP – Divisional Head, Learning & Development and Organizational Effectiveness, received the award along with her team on behalf of NBP.The recognition acknowledges the Bank’s ongoing work to strengthen inclusive policies and practices, encourage broader representation, and foster a workplace culture grounded in fairness, respect, and opportunity. It reflects NBP’s belief that inclusive institutions are better positioned to grow sustainably, strengthen culture, and create lasting impact. NBP continues to advance its people agenda in line with contemporary global benchmarks and institutional priorities, while reinforcing its commitment to building a workplace that is equitable, forward-looking, and responsive to the evolving expectations of a modern financial institution. About National Bank of Pakistan National Bank of Pakistan is one of Pakistan’s premier financial institutions, with a longstanding role in supporting national progress through financial services, outreach, and economic participation across the country.

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