Four militants killed during operation in northwestern Pakistan, says army 

A Pakistani army soldiers stand guard at a check point in Miran Shah , a town in North Waziristan, near the border between Pakistan and Afghanistan, on January 27, 2019. (FP/File)
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Updated 28 July 2024
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Four militants killed during operation in northwestern Pakistan, says army 

  • Slain militants were involved in attacks against security forces, killing of civilians, says army’s media wing
  • Islamabad blames recent surge in violence in northwestern province on militants operating out of Afghanistan

ISLAMABAD: Four militants involved in attacks on security forces and the killing of civilians were killed during an intelligence-based operation in the northwestern Tank district this week, Pakistan Army’s media wing said, as it steps up efforts to root out militancy in the country. 

The operation was conducted in Tank district on Saturday, July 27, on the reported presence of “terrorists,” the Inter-Services Public Relations (ISPR) said in a statement., 

It said the four militants were “sent to hell” after an intense exchange of fire between the two sides. 

“Weapons and ammunition were also recovered from killed Kharji terrorists, who remained actively involved in numerous terrorist activities against Security Forces as well as abduction & target killing of innocent civilians,” ISPR said. 

It added that a sanitization operation was being carried out to eliminate any other “terrorists” found in the area. 

“Security Forces of Pakistan are determined to wipe out the menace of terrorism from the country,” the statement said. 

Pakistan’s restive northwestern Khyber Pakhtunkhwa (KP) province, which borders Afghanistan, has been the scene of several attacks on police, security forces and anti-polio vaccination teams in recent weeks. 

Pakistan witnessed a spike in militant violence in its two western provinces, KP and Balochistan, since the Pakistani Taliban called off their fragile truce with the government in November 2022. The group has intensified its attacks in recent months.

Islamabad has blamed the surge in violence on militants operating out of neighboring Afghanistan. Kabul denies the allegation and says rising violence in Pakistan is a domestic issue of Islamabad.


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

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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.