Pakistan appointed vice chair of UN Security Council’s counterterrorism body

United Nations Security Council members vote on a resolution calling for a ceasefire and unrestricted humanitarian access in Gaza, at UN headquarters in New York City, US, on June 4, 2025. (AFP)
Short Url
Updated 05 June 2025
Follow

Pakistan appointed vice chair of UN Security Council’s counterterrorism body

  • Pakistani officials call the appointment international recognition of Islamabad’s counterterrorism efforts
  • Pakistan has also been named chair of the Security Council committee overseeing sanctions against the Taliban

ISLAMABAD: Pakistan was appointed vice chair of the United Nations Security Council’s Counter-Terrorism Committee on Wednesday, a move its officials described as international recognition of the country’s efforts to combat militancy and engage constructively within the UN system.

The committee, established in the aftermath of the September 11 attacks through Resolution 1373, monitors how UN member states implement counterterrorism measures.

Pakistan was also named chair of the Security Council committee overseeing sanctions against the Taliban, and co-chair of two informal working groups, one on improving the Council’s transparency and procedures and another on sanctions-related issues.

“These appointments represent an acknowledgment of Pakistan’s active engagement with the United Nations system, including its constructive role as an elected member of the Security Council,” the mission said in a statement. “They are also an international recognition of Pakistan’s counterterrorism efforts.”

These developments come nearly a month after New Delhi targeted Pakistani cities following a militant attack in Indian-administered Kashmir that killed 26 tourists. Indian officials blamed Pakistan for the assault, though the administration in Islamabad denied involvement and called for an “impartial” international probe.

The situation, however, escalated into a four-day military conflict before a US-brokered ceasefire was announced on May 10 by President Donald Trump.

Pakistan has also said in the past it has been targeted by armed militant factions operating from neighboring Afghanistan and “sponsored by India.” Both Kabul and New Delhi deny the charge, though Pakistan’s presence on the Taliban sanctions committee could carry significance in this context.

The Pakistani mission at the UN said it would work with other member states to help strengthen multilateral efforts against militant violence.

Pakistan, which began its two-year term as an elected member of the Security Council in January, has advocated for greater inclusivity and equity in global governance institutions, including reform of the UN’s working methods.


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

Updated 29 December 2025
Follow

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.