ISLAMABAD: Director General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, arrived in Pakistan on Wednesday for a two-day official visit, during which he is scheduled to meet key political leaders, attend seminars, and visit a nuclear power generation site, the foreign office said.
The IAEA is the United Nations’ nuclear watchdog, overseeing global efforts to promote safe and peaceful applications of nuclear technology. Pakistan has cooperated with the agency since 1957 and maintains an active civil nuclear power program under its safeguards.
While Pakistan is not a signatory to the Nuclear Non-Proliferation Treaty, it has voluntary safeguards agreements with the IAEA and actively engages with it on nuclear security to ensure its facilities meet international safety standards.
“Director General of the International Atomic Energy Agency (IAEA), Rafael Mariano @rafaelmgrossi, has arrived in Pakistan on a two-day official visit,” the foreign office announced on X, formerly Twitter.
“Pakistan is one of the largest recipients under IAEA’s Technical Cooperation Program, covering nuclear energy, health, water resource management, food & agriculture. His visit deepens Pakistan-IAEA partnership on peaceful uses of nuclear technology.”
During his visit, Grossi will hold talks with Prime Minister Shehbaz Sharif and Deputy Prime Minister and Foreign Minister Ishaq Dar.
He will also participate in seminars hosted by the Pakistan Nuclear Regulatory Authority (PNRA) and the National University of Sciences and Technology (NUST). Grossi’s itinerary includes visits to the Chashma Nuclear Power Generating Station (CNPGS) and Institute of Nuclear Medicine & Oncology Lahore (INMOL), a medical facility that offers free cancer treatment.
Pakistan, which is a member of the IAEA Board of Governors, has been advocating for inclusion in the Nuclear Suppliers Group (NSG), arguing that its nuclear program meets international safeguards criteria.
The country actively engages in IAEA conferences, policy discussions and technical workshops, reinforcing its commitment to peaceful nuclear applications.
International Atomic Energy Agency chief arrives in Pakistan to discuss nuclear cooperation
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International Atomic Energy Agency chief arrives in Pakistan to discuss nuclear cooperation
- Pakistan is has benefitted from IAEA’s technical cooperation program covering nuclear medicine and energy
- Pakistan seeks inclusion in Nuclear Suppliers Group, says its atomic program meets global safeguards criteria
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.
