Fake news witnessed massive surge in Pakistan during ex-PM Khan party protest in Islamabad — report

A poster of jailed former Pakistan's prime minister Imran Khan is pictured on a damaged vehicle after an overnight security forces operation against the supporters of Khan's Pakistan Tehreek-e-Insaf (PTI) party in Islamabad on November 27, 2024. (AFP)
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Updated 09 December 2024
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Fake news witnessed massive surge in Pakistan during ex-PM Khan party protest in Islamabad — report

  • Khan’s party on Nov. 24 led thousands of supporters to Islamabad, seeking to pressure the government to release the ex-premier from jail
  • The protests resulted in clashes that government says killed four law enforcers, while the party says 12 supporters were killed in crackdown

ISLAMABAD: A massive surge in fake news was witnessed during last month’s protest by former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party in Islamabad, the Fake News Watchdog said in its report on Sunday.
Khan’s party on Nov. 24 led thousands of supporters to Islamabad, seeking to pressure the government to release the ex-premier from jail and order an audit of Feb. 8 national election results. The protests resulted in clashes that Pakistan’s government says killed four law enforcers and injured hundreds of others.

The PTI has named 12 people and says it has evidence they lost their lives during the crackdown, however, several PTI members have given varied accounts of casualties during the protests. Pakistani authorities have denied the deaths, saying security personnel had not been carrying live ammunition during the protest.

Fake News Watchdog, an Islamabad-based non-profit organization fighting disinformation and misinformation, said in its report released on Sunday the Islamabad protest was marked by a “significant role of information warfare in shaping the narrative,” with dissemination of fake news and misinformation across print media, social media and television.

“The events surrounding the PTI protests from 24–27 November 2024 underscored the profound impact of fake news on political, social, and institutional dynamics in Pakistan. Misinformation during this period did not merely serve as a byproduct of political unrest; it actively shaped the narrative, inflamed tensions, and influenced public actions,” the report read.

“Fabricated content — whether through manipulated images, doctored videos, or false statements attributed to key figures — spread rapidly across social media and traditional news platforms, magnifying confusion and mistrust. This phenomenon revealed vulnerabilities in the country’s information ecosystem, where unverified claims gained traction in the absence of effective countermeasures.”

The watchdog said the role of social media was particularly significant, acting as both a tool for mobilization and a breeding ground for misinformation.

“The platform’s speed and reach allowed false narratives to proliferate unchecked, with emotionally charged content exploiting public sentiment,” it said in the report.

“At the same time, lapses in journalistic standards by mainstream media contributed to the problem, as unverified reports from influential outlets further legitimized misleading information.”

It said the widespread misinformation eroded public trust in media and government institutions, deepened political polarization, and led to exaggerated claims of violence, arrests and fatalities, contributing to unnecessary confrontations between protesters and law enforcers.

The coalition government of Prime Minister Shehbaz Sharif formed two task forces in the aftermath of the Islamabad protest: one to identify and take legal action against rioters and another to track and bring to justice suspects behind what the government described as a “malicious campaign” to spread “concocted, baseless and inciting” online news, images and video content against the state and security forces.

Last week, Pakistan’s army also called for action against “political elements” using “fake news for vested interests.”

“This pre-planned coordinated and premeditated propaganda reflects continuity of a sinister design by certain political elements as an attempt to drive a wedge between the public & Armed Forces and institutions of Pakistan,” the army said in what was a clear reference to Khan’s PTI party, following a meeting of its top commanders.

“This futile attempt, fueled and abetted by external players, will never be successful.”

Khan, who remains a popular figure in Pakistan despite being in prison and facing several court cases, has led a campaign of unprecedented defiance against the Sharif coalition and the all-powerful military, which he accuses of being behind his ouster from office in 2022. The army denies it interferes in politics.

Last week, the ex-premier also threatened to launch a civil disobedience movement and asked supporters to converge on Dec. 13 in Peshawar, the capital of the Khyber Pakhtunkhwa (KP) province which is ruled by his party.


Pakistan to issue four RFPs for Panda, dollar bond sale

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Pakistan to issue four RFPs for Panda, dollar bond sale

  • Government may seek to raise up to $1.25 billion from global markets
  • Authorities also eye FX-linked instruments to tap local dollar liquidity

KARACHI: Pakistan’s government plans to issue four Requests for Proposal (RFPs) to major international investment banks as it moves toward launching Panda and dollar bonds, seeking to raise up to $1.25 billion from global markets, a senior finance ministry official told Arab News this week. 

RFPs are formal invitations sent to banks asking them to submit bids to underwrite bond issuances, a step that signals the government is entering the execution phase of its borrowing plans. Panda bonds are yuan-denominated bonds issued in China, while dollar bonds are sold in international markets to global investors.

Pakistan has recently boosted the State Bank of Pakistan’s foreign exchange reserves to around $16 billion, supported by a $7 billion International Monetary Fund (IMF) program but continues to seek diversified sources of foreign funding. The country has also relied on financial support from friendly nations such as China, Saudi Arabia and the United Arab Emirates to manage balance-of-payments pressures.

The plans for the RFPs were discussed at a meeting of the finance ministry’s Debt Management Office (DMO) with financial market participants held on Jan. 12 at the Pakistan Stock Exchange, the finance ministry official said, requesting anonymity.

“The Debt Management Office of ministry of finance held a meeting... to communicate their strategy and debt management plan through various new initiatives under pipeline,” the official said.

Providing details of the DMO meeting, Shankar Talreja, head of research at Topline Securities Ltd., who attended the session, said the government was now moving decisively toward global bond issuance.

“The government is expected to issue four RFPs to engage big international investment banks like JP Morgans etc., who will submit their proposals on underwriting the bonds Pakistan is seeking to float,” Talreja told Arab News.

“They are rolling out both the Chinese and US bonds simultaneously,” he said, adding that the government may target raising about $1.25 billion.

Talreja said the IMF, in its latest country report, had asked Pakistan to raise $250 million through Panda bonds this year and another $1 billion through dollar bonds next year.

“That $1 billion can be a mix of both or only dollar bonds,” he said.

Alongside external borrowing, the government is also considering issuing foreign exchange-linked notes or bonds aimed at attracting dollar liquidity already held within Pakistan.

Talreja said the DMO was working on exchange rate-linked instruments for local investors, particularly individuals holding dollars in bank accounts or seeking returns linked to the US dollar.

According to State Bank of Pakistan data, commercial banks held $5.14 billion in foreign currency deposits as of January 2.

“The government borrows huge amount of dollars at as much as 8-7 or 10 percent markup rates from its foreign lenders. Why not to borrow from local investors at a reasonable rate of return,” Talreja said.

“The $5.1 billion Pakistan’s commercial banks are currently holding in deposits can be easily targeted,” he added.

Pakistan also faces near-term external repayment obligations, including a $1.3 billion Eurobond maturing on April 8.

The country repaid $500 million of Eurobond debt in September 2025 without market disruption, which Talreja described as a “nonevent” due to sufficient financial resources, citing DMO officials.

Separately, Talreja said in a note to clients that yields on 10-year Chinese government bonds were currently below 2 percent, while US bonds of similar maturity were yielding between 4 and 4.5 percent.

“The government expects rate on new issuance well within existing secondary market yields of Pakistan bonds, while Panda bonds are likely to be further competitive,” he said.

To attract global investors, Pakistani authorities have conducted roadshows and finalized a list of more than 100 international investors as part of their outreach efforts, he added.