Thousands rally for peace in Pakistan’s Swat valley after attack on diplomats’ convoy

Activists and supporters of different political parties and local residents gather to take part in a demonstration against militancy following a blast targeting diplomatic convoy, in Mingora city, in Swat district of Khyber Pakhtunkhwa province on September 27, 2024. (AFP)
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Updated 28 September 2024
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Thousands rally for peace in Pakistan’s Swat valley after attack on diplomats’ convoy

  • Pakistani army and counter-terror forces maintain a strong presence in Swat valley, long a hotbed of militant insurgency
  • TTP insurgents took partial control of Swat Valley in 2007, before being driven out by years-long military operations

PESHAWAR: Thousands came out in protest in Swat valley in northwestern Pakistan on Friday, days after a roadside bomb hit a convoy of foreign diplomats visiting the area, killing a police officer in their security detail. 
While most militant attacks in the Khyber Pakhtunkhwa province bordering Afghanistan are claimed by the Pakistani Taliban, also known as the Tehreek-e-Taliban Pakistan (TTP), the group has distanced itself from last week’s attack on the diplomats convoy, which took place as it was en route to a hill station and ski resort called Malam Jabba. All the nearly dozen diplomats were unhurt.
Pakistan has seen a rise in militancy in recent months, with most attacks taking place in Khyber Pakhtunkhwa. Islamabad says fighters mainly associated with the Pakistani Taliban or TTP group frequently launch attacks from hideouts in Afghanistan, targeting police and other security forces. Islamabad has even blamed Kabul’s Afghan Taliban rulers for facilitating anti-Pakistan militants. Kabul denies the charges.
Over 80 policemen have been killed in attacks, ambushes and target killings in KP in 2024, according to police data.
“The protest is meant to give a message for the restoration of peace,” said Mazhar Azad, a representative of the Swat Qami Jirga that led Friday’s protest in a famous town square in Mingora city called Nishat Chowk. 




Activists and supporters of different political parties and local residents gather to take part in a demonstration against militancy following a blast targeting diplomatic convoy, in Mingora city, in Swat district of Khyber Pakhtunkhwa province on September 27, 2024. (Photo courtesy: Mazhar Azad/ Swat Qaumi Jirga)

“We want peace at any cost, we want an end to terrorism. We don’t want any kind of war on our land.”
The protest was joined by representatives of nearly all political parties, members of the Pashtun Tahafuz Movement civil rights group as well as activists, lawyers and trade union representatives from Swat.
Friday’s protest took place despite the Deputy Commissioner’s Office in Swat issuing a “high-level” threat alert for district Swat on Thursday, banning large public gatherings. 
“We are being told that militants are present in the mountains of Swat,” Swat Qami Jirga member Khalid Mehmood Khan said as he addressed the gathering. “If this is true, then it is evidence of state failure. We will no longer accept unrest and militancy in Swat under any circumstances.”
When asked about public reservations about the deteriorating security situation in Swat and the rest of Khyber Pakhtunkhwa, a spokesperson for the Khyber Pakhtunkhwa government, Muhammad Saif, said KP Chief Minister Ali Amin Gandapur had constituted a fact-finding committee on the attack on foreign diplomats:




Activists and supporters of different political parties and local residents gather to take part in a demonstration against militancy following a blast targeting diplomatic convoy, in Mingora city, in Swat district of Khyber Pakhtunkhwa province on September 27, 2024. (Photo courtesy: Mazhar Azad/ Swat Qaumi Jirga)

“The government of Khyber Pakhtunkhwa is doing everything possible to restore and maintain peace in the province.”
Spokesperson for Swat Police, Moen Fayaz, said Friday’s protests had concluded in a “peaceful manner.”
“People of Swat and police have given sacrifices in the past and the police are ready to fight against militancy in future,” he told Arab News. “Both government and public respect the sacrifices of police and police will fight in the future as well to restore peace in the region.”
Pakistani army and counter-terrorist forces maintain a strong presence in Swat valley, which has long been a hotbed of militant insurgency, though militants have stepped up their attacks since late 2022 after breaking a ceasefire with the government. 
In 2012, Islamist militants shot and wounded Nobel Peace Prize laureate Malala Yousafzai in the valley. TTP insurgents took partial control of Swat Valley in 2007, before being driven out by years-long military operations.


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.