SRINAGAR, India: Indian and Pakistani soldiers exchanged gunfire and shelling along their highly militarized frontier in disputed Kashmir, killing an Indian border guard, officials said Thursday.
Authorities in the Indian-administered portion of Kashmir said Pakistani soldiers fired mortars and machine guns at border posts in the southern Jammu area on Wednesday night, calling it “unprovoked.”
India’s Border Security Force said in a statement that its soldiers “befittingly responded” and that one of its border guards was killed.
The fighting ended early Thursday.
There was no immediate comment from Pakistan. Each side often accuses the other of starting border skirmishes in the Himalayan region, which both claim in its entirety.
Last month, two Indian border guards and three civilians were injured in fighting along the fronter with Pakistan.
India and Pakistan have a long history of bitter relations over Kashmir. They have fought two of their three wars since 1947 over their competing claims to the region. In the Indian-administered portion of Kashmir, militants have fought against Indian rule since 1989. In 2003, the two nations agreed on a cease-fire that has largely held despite regular skirmishes.
The nuclear-armed countries’ contended frontier includes a 740-kilometer (460-mile) rugged and mountainous stretch called the Line of Control that is guarded by their armies.
Both countries also have separate paramilitary border forces guarding their somewhat defined, lower-altitude 200-kilometer (125-mile) boundary separating Indian-administered Kashmir and the Pakistani province of Punjab.
In 2021, the two nations reaffirmed their 2003 cease-fire accord after months of near-daily fighting that killed scores on both sides in Kashmir.
India, Pakistan border guards trade fire along Kashmir frontier; one Indian soldier killed
https://arab.news/8mett
India, Pakistan border guards trade fire along Kashmir frontier; one Indian soldier killed
- Both countries have fought two of their three wars since 1947 over their competing claims to the disputed region
- In 2021, the two nations reaffirmed their 2003 cease-fire accord after months of near-daily fighting that killed scores
Pakistan to press ahead with privatization after $441 million net loss in FY2024-25
- National Highway Authority and power distribution companies are major loss contributors
- The government says reforms agenda is shifting ‘from diagnosis to delivery’ after PIA sale
KARACHI: Pakistan is pressing ahead with plans to privatize state-owned enterprises (SOEs) after official data released on Friday showed the sector posted a net loss of PKR 122.9 billion ($441 million) in the year ended June 2025, with the government approving new transactions involving power utilities, an international airport and other major assets.
The Cabinet Committee on State-Owned Enterprises, chaired by Finance Minister Muhammad Aurangzeb, reviewed the Annual Consolidated Performance Report of SOEs for the fiscal year ended June 2025. The report was prepared by the Finance Division’s Central Monitoring Unit, which showed SOEs remain a significant drag on public finances.
“The Committee was informed that during FY 2024-25, aggregate revenues of SOEs stood at approximately PKR 12.4 trillion [$44.6 billion], reflecting a decline largely attributable to reduced profitability in the oil sector following lower international oil prices,” said an official statement circulated by the Finance Division.
“Aggregate profits of profit-making SOEs declined by 13 percent to PKR 709.9 billion [$2.55 billion] compared to PKR 820.7 billion [$2.95 billion in the preceding year], while aggregate losses of loss-making SOEs showed improvement, declining by around 2 percent to PKR 832.8 billion [$2.99 billion],” it added. “Despite this improvement, the net result was an overall net loss of PKR 122.9 billion [$441 million] for the SOE sector, compared to a net loss of PKR 30.6 billion [$110 million] in the previous year.”
It was highlighted that losses remain heavily concentrated in a small number of entities, particularly in the transport and power distribution sectors.
“National Highway Authority and several power distribution companies continued to be major loss contributors, reflecting structural issues, high depreciation, financing costs, and the public service nature of certain operations that are not commercially viable,” the statement said.
It added the cabinet committee directed that the findings of the report be shared with relevant ministries to inform reform measures and that progress on audits, governance reforms, debt rationalization and fiscal risk containment be reviewed regularly.
In a separate post on X, government finance adviser Khurram Schehzad said the SOE reform agenda was shifting “from diagnosis to delivery,” citing recent privatizations including First Women Bank, the shutdown of Utility Stores Corporation and progress on Pakistan International Airlines.
The Privatization Commission also held a meeting during the day, saying it would also move ahead with the privatization of power distribution companies while recommending that Islamabad International Airport be included in the privatization program under an open, competitive concession model.
It also decided to restart the sale process for House Building Finance Company Limited after terminating an earlier negotiated transaction that failed to meet valuation benchmarks.
Pakistan is implementing structural reforms under a $7-billion program agreed with the International Monetary Fund, which has urged Islamabad to rein in losses at state firms and reduce fiscal risks stemming from debt and guarantees.
