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In Focus
Pakistan to join Trump's "Board of Peace": FO
Defence Minister Asif defends decision amid criticism
On 21 January, The Express Tribune reported that Pakistan's Foreign Office (FO) had announced its acceptance of US President Donald Trump's invitation to join the "Board of Peace," a new body chaired by Trump to oversee the implementation of the Gaza ceasefire, humanitarian aid, and reconstruction under UNSC Resolution 2803. The decision followed an invitation to PM Shehbaz Sharif, with Deputy PM and FM Ishaq Dar sharing the news, followed by a joint statement by foreign ministers of Pakistan, UAE, Turkiye, Egypt, Saudi Arabia, Indonesia, Qatar, and Jordan confirming their participation.
The Board of Peace emerged amid a fragile three-month Gaza ceasefire signed in October 2025 in Sharm El-Sheikh, following intense conflict that killed tens of thousands and displaced much of Gaza's population. Pakistan has long championed a two-state solution, Palestinian self-determination on pre-1967 borders with East Jerusalem as capital, and UN-led processes, as voiced in OIC and UNGA forums. Membership requires a USD one billion fee for permanent status, with Trump holding veto power over decisions; the board currently focuses on Gaza but eyes expansion to other conflicts, such as Ukraine.
Pakistan's Foreign Office emphasised its commitment to Palestinian rights, ceasefire enforcement, aid scaling, and reconstruction, positioning Islamabad to influence outcomes and bridge legitimacy gaps among Muslim-majority countries. Defence Minister Khawaja Asif defended the decision, saying it amplifies Pakistan's voice on Gaza, warning that absence risks irrelevance in a large gathering of invited nations. Domestically, backlash was swift from Senator Allama Raja Nasir, who decried it as neo-colonial and UN-undermining, inconsistent with Pakistan's Kashmir advocacy; JI chief Hafiz Naeemur Rehman rejected it as a ploy to seize Palestinian land, opposing any troop deployment; ex-UN envoy Maleeha Lodhi, Shireen Mazari, and Mustafa Nawaz Khokhar echoed concerns over the lack of parliamentary debate. The board's structure features Trump as chair with an executive board including Rubio, Witkoff, Kushner, and Blair, where members hold three-year terms with one vote each, but the chairman approves all resolutions. (“Pakistan accepts Trump's invitation to join 'Board of Peace': FO,” The Express Tribune, 21 January 2026; “Defence Minister Asif defends move to join Trump's 'Board of Peace' amid criticism,” The Express Tribune, 21 January 2026)
In Brief
EXTERNAL
PM Sharif briefs IMF chief on improving economic indicators
On 22 January, as reported by The Express Tribune, PM Shehbaz Sharif met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the World Economic Forum (WEF) summit in Switzerland, where he is also participating in discussions on global cooperation and engaging with international leaders. He met with the IMF chief to discuss Pakistan's macroeconomic improvements and reform commitments. Additional meetings included one with Palestinian PM Mohammad Mustafa and various world leaders focusing on economic challenges and Pakistan’s reform agenda. Finance Minister Muhammad Aurangzeb also engaged with the president of the Asian Development Bank (ADB) regarding development partnerships and Pakistan's economic stabilisation efforts. (“PM Shehbaz apprises IMF chief of improving economic indicators on WEF's sidelines,” The Express Tribune, 22 January 2026)
Pakistan & Finland boost bilateral cooperation
On 22 January, as reported by The Express Tribune, Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar met with Finland's Foreign Minister Elina Valtonen on Wednesday, reaffirming their commitment to enhance Pak-Finland bilateral cooperation in trade and investment. The meeting took place at the 26th World Economic Forum in Davos, where they also discussed significant regional and global developments, emphasising a forward-looking and mutually beneficial partnership. (“Pakistan, Finland to boost bilateral cooperation,” The Express Tribune, 22 January 2026)
PROVINCE
Gulf Plaza fire death toll rises as rescue enters fourth day
On 22 January, as reported by The Express Tribune, the death toll from the tragic fire in Karachi rose to 52. The inquiry committee formed by the Sindh chief secretary would examine all angles, including potential sabotage, in light of a tragic fire incident at RJ Mall, which revealed gaps in fire safety audits. Karachi Commissioner Hasan Naqvi emphasised collective institutional responsibility rather than individual accountability, asserting that those who take risks bear fundamental responsibility, and the inquiry will provide a comprehensive picture. He confirmed that 31 bodies have been recovered from the scene, though some remain unconfirmed, and noted that the building, while damaged, is not deemed unsafe. Naqvi stressed the need for forward-looking preventive measures, accurate building maps, and compliance with international fire safety standards. While no evidence of sabotage has been found, investigations into the circumstances surrounding the fire continue. Missing persons have increased to 86, with ongoing rescue operations complicated by lingering smoke and heat. The Human Rights Commission of Pakistan expressed grave concern about the incident, citing failures in urban governance and building safety. It called for an independent investigation and an overhaul of fire safety standards. The report highlighted systemic issues that allowed the fire to escalate and disproportionately affected the working class, urging the establishment of effective local governance for better implementation of safety measures.
(“Death toll in Gul Plaza fire rises to 30 as rescue enters fourth day,” The Express Tribune, 22 January 2026)
POLITICS & GOVERNANCE
Bill allowing for secrecy of lawmakers’ assets sails through NA
On 22 January, as reported by Dawn, the National Assembly (NA) passed a bill allowing lawmakers' asset declarations to be kept confidential under certain conditions, amid opposition from the PTI. The amendment to the Elections Act 2017 aims to balance transparency with personal safety, permitting non-publication if it poses a threat to members or their families. The House also passed the Corporate Social Responsibility bill, mandating large companies to allocate one per cent of profits to social initiatives. Additional subjects discussed included the treatment of former Prime Minister Imran Khan in prison, a military operation in Khyber Pakhtunkhwa, and renewed controversy over the 18th Amendment, with debates on provincial autonomy following critical remarks by government ministers. (“Bill for secrecy of lawmakers’ assets sails through NA,” Dawn, 22 January, 2026)
ECONOMY
Fitch affirms Pakistan’s debt ratings at ‘B-’
On 22 January, Dawn reported that Fitch Ratings affirmed Pakistan’s long-term debt ratings at ‘B-’ with a stable outlook and assigned a Recovery Rating of ‘RR4’, reflecting average recovery expectations in the event of default following the adoption of its new Sovereign Rating Criteria. Fitch cited Pakistan’s high government debt and interest burden, weak governance indicators, and external vulnerabilities, while noting that the ratings remain sensitive to IMF programme performance, external liquidity conditions, and fiscal discipline. The agency said upgrades would depend on sustained reductions in debt and financing risks through fiscal consolidation and improved revenue generation, while failures in these areas or renewed external pressures could trigger a downgrade. (“Fitch affirms Pakistan’s debt ratings at ‘B-’,” Dawn, 22 January 2026)
JUDICIARY
FCC reserves verdict for ban on imports from India
On 22 January, as reported by Dawn, the Federal Constitutional Court (FCC) reserved its ruling regarding the federal government’s challenge to the Lahore High Court’s (LHC) directions on the import ban from India. A three-judge bench, led by Justice Aamer Farooq, reviewed an appeal from the commerce ministry against the LHC's 26 January 2024 ruling, which upheld the legality of statutory regulatory orders (SROs) that banned imports, including books, from India, citing national security and foreign policy. Although the LHC declared the SROs valid, it directed the federal government to appoint an officer to review the policy, which the FCC is now evaluating for possible judicial overreach. Government representatives argued that the LHC exceeded its jurisdiction by interfering in executive policy and that trade restrictions fall within the executive domain under the Constitution. The FCC has reserved its judgment following the arguments presented.
(“FCC reserves verdict on case related to ban on imports from India,” Dawn, 22 January, 2026)
Editorials/Opinions
State-owned enterprises
Editorial, “SOEs: an eclectic approach,” Dawn, 22 January 2026
“A controversy is raging on both mainstream and social media over PIA’s recent privatisation. Unless this debate is addressed rationally, future privatisation transactions may also be at risk. Past experience offers a cautionary lesson: the Supreme Court’s decision to annul the privatisation of Pakistan Steel Mills did not revive the enterprise; instead, it led to its closure in 2015 and significantly slowed the overall privatisation process.”
https://www.dawn.com/news/1968379/soes-an-eclectic-approach
Karachi fire
Editorial, “Fighting fires,” Dawn, 22 January 2026
“The Gul Plaza tragedy in Karachi last weekend provided the perfect metaphor and visual example of a lot of what weighs down Pakistan’s economy. This was not the first such fire. Journalist Mahim Maher compiled a list of 60 mall fires in Karachi between 2016 and 2022. “Gul Plaza was a disaster waiting to happen,” she said while re-sharing her interactive map of all these fires on her social media feed.”
https://www.dawn.com/news/1968377/fighting-fires
Pak-Afg
Editorial, “Afghan border closure,” Dawn, 22 January 2026
“Following the clashes between Pakistan and Afghanistan last October, the border separating the two countries remains closed for trade, and people’s movement continues to be highly restricted. Prime Minister Shehbaz Sharif highlighted this issue while talking to a delegation from KP on Tuesday, saying that Pakistan’s hand was “forced” in the matter due to the Afghan Taliban’s refusal to effectively crack down on cross-border terrorism. Mr Sharif said the trade blockade “should not have been there”, but added that it was up to Afghanistan’s rulers to decide whether or not they wanted to live in peace with Pakistan. The border was also closed last February, after security forces on both sides clashed; but the current closure is the longest in recent memory.”
https://www.dawn.com/news/1968370/afghan-border-closure
Cryptocurrency
Editorial, “Pakistan’s crypto gap,” The Express Tribune, 22 January 2026
“For millions of Pakistanis, cryptocurrency is no longer a novelty or a speculative gamble. It has become a coping mechanism. As inflation rises, the rupee weakens and moving money across borders grows harder, digital assets have stepped in where traditional finance often falls short.”
https://tribune.com.pk/story/2588326/pakistans-crypto-gap
Air pollution
Editorial, “Toxic air,” The Express Tribune, 22 January 2026
“After a lengthy spectacle of anti-smog guns in Lahore that were vehemently defended by the Punjab government, Lahore has once again emerged as the world's most polluted city with an Air Quality Index (AQI) of 452. According to the air quality monitoring platform IQAir, an AQI of over 300 places a region within the "hazardous" bracket, which poses serious health risks to the population, especially children and the elderly. Air pollution in Lahore has been an unnecessarily prolonged fight, which has not only caused multiple chronic health conditions but also numerous deaths as citizens struggle against an unbreathable environment.”
https://tribune.com.pk/story/2588325/toxic-air
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