Pakistan president approves amended media bill aimed at thwarting ‘fake news’

An employee works at the control room of a television channel in Karachi, Pakistan, on April 11, 2018. (Photo courtesy: REUTERS/File)
Short Url
Updated 16 August 2023
Follow

Pakistan president approves amended media bill aimed at thwarting ‘fake news’

  • The PEMRA Amendment Act 2023 raises financial penalty for deliberately spreading false news from Rs1 million to Rs10 million
  • Media outlets critical of the outgoing government previously objected to the bill, saying it would impose restrictions on news channels

ISLAMABAD: Pakistan President Arif Alvi on Tuesday signed into law an amended media bill that aims to thwart “fake news,” Pakistani state media reported. 

The Pakistan Electronic Media and Regulatory Authority (PEMRA) Amendment Bill 2023 provides definitions for “fake news,” “disinformation,” and “misinformation,” while increasing the financial penalty for deliberately spreading false news from Rs1 million to Rs10 million, according to a report published by the state-run Radio Pakistan broadcaster. 

It uses the term “certified news” instead of “news” in the preamble and seeks to broaden the scope of public entertainment, education, and information. 

“President Dr. Arif Alvi has assented the Pakistan Electronic Media and Regulatory Authority Amendment Bill 2023,” the report read. “He approved the bill under Article 75 of the Constitution.” 

Under the new law, a three-member committee would be granted the authority to shut down a channel instead of the PEMRA chairman. It also mentioned the Council of Complaints that would address the problems of delayed payments of journalists’ salaries by their organizations. 

Outgoing information minister, Marriyum Aurangzeb, last month said the PEMRA bill had been finalized after “extensive consultations with all stakeholders.” 

“The primary objective of the bill is to improve the welfare of journalists, and enable a free, responsible and ethical media environment in Pakistan, as practiced in democratic countries around the world,” she continued. 

However, media outlets critical of the outgoing government had objected to the development at the time. ARY News, a Pakistani television news channel, described it as an attempt to impose restrictions on news channels and their coverage of important events. 

The channel’s president, Ammad Yousaf, said no government or bureaucrat could determine the news agenda of a news channel. 


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

Updated 29 December 2025
Follow

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.