ISLAMABAD: Pakistan’s National Assembly, the lower house of parliament, on Friday elected a member of former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) opposition party as the head of its accountability committee, amid prevailing political tensions in the South Asian country.
The Public Accounts Committee is among the most powerful parliamentary bodies in Pakistan and holds the authority to summon virtually any individual or record from government departments. Its main objective is to uphold transparency and accountability across all public and constitutional institutions, promoting financial integrity and good governance.
The development came a day after ex-PM Khan called off negotiations with the government over its failure to establish judicial commissions to investigate violence at anti-government protests organized by his party. The talks, which began last month after Khan threatened a civil-disobedience movement, aimed to ease political tensions, but have not yielded desired results after three rounds.
Khan’s ouster in a parliamentary no-trust vote in 2022 has plunged Pakistan into a political crisis, particularly since he was jailed in August 2023 on corruption and other charges. His PTI party has regularly held protests to demand his release, with many of the demonstrations turning violent. At the last meeting on Jan. 16, the PTI had given the government seven days to announce the truth commissions, a deadline that expired on Thursday.
But despite the government-opposition stalemate, Junaid Akbar Khan, a lawmaker from Khan’s PTI party, was elected on Friday unopposed as the head of the National Assembly’s Public Accounts Committee (PAC), according to a statement issued by the National Assembly Secretariat. The post of the PAC chairman had been vacant since the general election in Feb. last year.
“I will move forward taking all the [committee] members with me,” Junaid was quoted as saying by the National Assembly Secretariat, as committee members assured him of their support.
The announcement of Junaid’s election as PAC chairman came hours after the PTI refused to attend the next round of talks with the government on Jan. 28
The PTI’s demands to the government revolve around the release of all political prisoners including Khan, and the formation of two judicial commissions to probe into violent protest rallies, including one on May 9, 2023, when PTI supporters rampaged through military offices and installations, and a second one on Nov. 26, 2024 to demand Khan’s release, in which the government says four troops were killed.
Speaking to reporters in Islamabad, Senator Irfan Siddiqui, a member of the government’s negotiations team, criticized the PTI for calling off the parleys.
“Come out of this confusion, and come sit with us on the 28th,” he said in televised comments, referring to Khan’s party. “Whether the commission will be formed or not, it will be decided there.”
Parliament elects ex-PM Khan aide as head of accountability body amid Pakistan political tensions
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Parliament elects ex-PM Khan aide as head of accountability body amid Pakistan political tensions
- Pakistan parliament elects ex-PM Khan aide as head of accountability body amid political tensions
- Member of the government’s team criticizes Khan’s party for calling off the parleys, says differences can only be resolved through talks
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.
