As Pakistan marks Bhutto’s death anniversary her family barred from leaving the country

Benazir Bhutto’s husband, former President Asif Ali Zardari, her son Bilawal who is the Chairman of the Pakistan Peoples Party (PPP), and Zardari's sister Faryal Talpur, are among 172 prime suspects accused of holding fictitious bank accounts. (AFP/File)
Updated 28 December 2018
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As Pakistan marks Bhutto’s death anniversary her family barred from leaving the country

  • Zardari and others placed on Exit Control List
  • She brought several laurels to Pakistan by becoming country’s first woman PM

ISLAMABAD: Prime Minister Imran Khan marked the Benazir Bhutto’s 11th death anniversary on Thursday by deciding to place her family members on the country’s Exit Control List (ECL) for their involvement in money laundering and other cases of graft.
His decision was based on findings of a report compiled by a government-commissioned Joint Investigation Team (JIT).
Bhutto’s husband, former President Asif Ali Zardari, her son Bilawal who is the Chairman of the Pakistan Peoples Party (PPP), and Zardari's sister Faryal Talpur, are among 172 prime suspects accused of holding fictitious bank accounts. 
“The PPP declared the JIT report rubbish, trash of lies. Will prove it a lie before the courts; challenge it at every forum be it parliament or bar of public opinion,” Farhatullah Babur, a PPP stalwart, said. 
Slamming the federation for choosing the occasion of Bhutto’s death anniversary to place her family on the ECL, PPP Senator Sherry Rehman reminded people of her mentor and leader’s struggle. “Another Bhutto sacrificed her life for Pakistan, for democracy and though she has parted, her legacy will live on through the countless lives she enriched,” she said.
Bhutto’s assassination was condemned across all quarters even though her murderers have yet to be named in a case that continues to remain unsolved even though Al Qaeda has claimed responsibility for the attack.
To mark the occasion, the southern province of Sindh — which was the epicenter of her party’s political activities – observed a public holiday on Thursday. Thousands gathered at her hometown in rural Sindh to listen to her son, Bilawal Bhutto, who is the leader of the PPP, pay tribute to his mother as others followed suit on several social media platforms.

“She certainly was a symbol of democracy. Her years (1977 – 1988) of struggle were a testing period for her and the way she emerged to lead was tremendous,” Retired Col. Asad Mehmood, a political analyst, told Arab News.
“Benazir Bhutto was patriotic, prudent and a woman of international fame. She not only understood the core issues of Pakistan but also knew how to tackle those issues. Her demise was a huge loss to Pakistan,” Dr. Tahir ul Qadri, Chairman of Pakistan Awami Tehreek, said.
Bhutto, who was educated in top western universities, was thrust into the political limelight in her mid-twenties.
Her father, Zulfiqar Ali Bhutto, was removed from the post of prime minister in a military coup, organized by General Mohammed Zia-ul-Haq in 1977, and later executed. 
Members of the Bhutto family were repeatedly imprisoned. However, despite all the hurdles, Bhutto stood by her mother, campaigned for restoration of democracy, and challenged the military rule.
More tragedy followed. Her brother Shahnawaz was killed in France under mysterious circumstances in 1980, allegedly poisoned, a claim the Bhutto family insisted but lacked evidence.
Forced into exile in 1984, Bhutto became the leader of the PPP (Pakistan People’s Party) which was co-founded by her father.
In 1988, Mohammed Zia-ul-Haq was killed in a plane crash, two years after Bhutto had returned to Pakistan from England after the military ruler lifted martial law and delegated some power to the civil setup.
Besides Bilawal, the couple have two other daughters — Bakhtawar and Aseefa.
Her party won the elections in 1988, resulting in her claiming the title of the youngest elected leader in the Islamic world and the first woman Prime Minister of Pakistan. 
Bhutto served two partial terms in the country’s top office from 1988 to 1990 and 1993 to 1996. 
Accused of corruption, nepotism, and bribery scandals, her government was dismissed on both occasions by Pakistan’s president.
But while in power, Murtaza, another brother, died during a 1996 police encounter.
After losing the elections in 1997 to Nawaz Sharif’s Pakistan Muslim League-Nawaz (PML-N) party, Bhutto went into a self-imposed exile a year later to avoid political victimization and corruption cases. 
She returned to the country after the US-brokered an amnesty deal with Pakistan’s former president, General Pervaiz Musharraf, to run for the 2008 elections.
Her arrival on October 18, 2007, 10 years after she had chosen to stay away from Pakistan, drew people from all over the country, with celebrations paralyzing the city of Karachi.
This was before the caravan representing Bhutto’s welcome rally – with her onboard — was attacked by two deadly bombings, killing 180 people and injuring nearly 500 supporters. 
A few months later, despite threats to her life, she courageously stepped out to address a public gathering in Rawalpindi on December 27. There she spoke against militancy, terrorism, and the military government campaigning for democracy. She was killed the very same day in a brazen double attack.
“She came back to restore democracy. She was aware she could be killed in the process like her family but she was daring,” Malaika Raza of PPP told Arab News.


Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

Updated 29 December 2025
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Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

  • Finance Adviser Khurram Schehzad says this was the highest-ever Sukuk issuance in a single calendar year since 2008
  • Pakistan’s Federal Shariat Court ordered in 2022 the entire banking system to transition to Islamic principles by 2027

ISLAMABAD: Pakistan’s Finance Adviser Khurram Schehzad on Monday said the country achieved a landmark breakthrough in Islamic finance by issuing over Rs2 trillion ($7 billion) sukuk this year, bringing it closer to its 20 percent Shariah-compliant debt target by Fiscal Year 2027-28.

A sukuk is an Islamic financial certificate, similar to a bond, but it complies with Shariah law, which forbids interest. Pakistan’s Federal Shariat Court (FSC) had directed the government in April 2022 to eliminate interest and align the country’s entire banking system with Islamic principles by 2027.

Following the ruling, the government and the State Bank of Pakistan (SBP) have undertaken a series of measures, including legal reforms and the issuance of sukuk to replace interest-based treasury bills and investment bonds.

“In 2025, the Ministry of Finance (MoF) through its Debt Management Office, together with its Joint Financial Advisers (JFAs), successfully issued over PKR 2 trillion in Sukuk,” Schehzad said on X, describing it as “the highest-ever Sukuk issuance in a single calendar year since 2008 by Pakistan.”

Pakistan made a total of 61 issuances across one-, three-, five- and 10-year tenors, according to the finance adviser. The country also successfully launched its first Green Sukuk, a Shariah-compliant bond designed to fund environment-friendly projects.

He said the Green Sukuk was 5.4 times oversubscribed, indicating investor demand was more than five times higher than the amount the government planned to raise, which showed strong market confidence.

“The rising share of Islamic instruments in the government’s domestic securities portfolio (domestic debt) underscores strong momentum, growing from 12.6 percent in June 2025 to around 14.5 percent by December 2025, clearly positioning the MoF to achieve its 20 percent Shariah-compliant debt target by FY28,” Schehzad said.

“This milestone also reflects the structural deepening of Pakistan’s Islamic capital market, sustained investor confidence, and the strengthening of sovereign debt management.”

He said Pakistan was strengthening its government securities market by making it more resilient, diversified, and future-ready, supported by a stabilizing macroeconomic environment, a disciplined debt strategy, and a clear roadmap for Islamic finance.