ISLAMABAD: Federal Investigation Agency (FIA) Director General Dr Usman Anwar took notice of an incident during a raid in Karachi’s Sarafa Bazar and sought a detailed report within 48 hours.

On May 15, 2026, the agency carried out a raid on a jewellery shop in the market, targeting alleged silver smuggling.

The FIA had initially taken the position that official records showed 178 kilogrammes of silver should have been at the shop, but only 15kg of locally branded silver was recovered.

The agency alleged the missing 163kg may have been removed during a disturbance created by traders and shopkeepers at the market.

It further claimed that some people tried to worsen the situation by forming crowds and obstructing official action, but personnel handled it with restraint. Moreover, the FIA said it had obtained digital evidence from suspects’ phones linked to smuggling networks.

The FIA chief directed the Karachi Zone director to conduct a full inquiry into the matter, instructing that all aspects of the incident, including legal procedures, relevant evidence and material circulating on social media, be examined impartially.

According to an FIA spokesperson, the agency is a professional institution that believes in transparent and impartial action in accordance with the law.

“Strict action will be taken against elements involved in the incident and any illegal activities in accordance with the law,” the spokesperson said.

They added that investigations were launched against the suspects and facilitators on allegations of smuggling, obstructing government officials, and inciting crowds against state action.

The agency stressed that the operation was against smugglers and economic criminals, not the wider business community, and that strict action would continue against those interfering in legal operations.

In a related development, the Karachi Zone director met representatives of the All Pakistan Sarafa Jewellers and Gems Association on Saturday to discuss the raid.

During the meeting, both sides exchanged views on the incident and related matters, according to the FIA spokesperson.

The Karachi Zone director assured the delegation that a complete, transparent and impartial investigation would be conducted, with all aspects of the case examined in detail. He added that the rule of law would be ensured and no one was above the law.

“The FIA will prioritise legal requirements and institutional procedures in carrying out its professional responsibilities,” the spokesperson said.

Matters related to mutual cooperation, confidence-building, and the resolution of issues faced by the business community were also discussed.

The raid is linked to a broader case of missing silver during transportation after confiscation by Pakistan Customs.

It was reported in a Senate committee meeting on Friday that approximately 698kg of silver had been confiscated in various cases in Balochistan. However, during transport, it was found that the consignment allegedly contained only 298kg of silver, while the remaining 400kg consisted of lead.

Customs officials informed the committee that the matter appeared prima facie to be an insider job and that an inquiry had already been initiated by the FIA.

Senator Saleem Mandviwalla directed the Federal Board of Revenue to ensure recovery of the missing silver, identify those involved and submit a comprehensive report.

WASHINGTON: The United States is entering a period of structurally higher industrial natural gas demand, with consumption expected to remain at record levels through at least 2027, even as the Iran war intensifies disruptions across global oil markets and tightens energy supplies worldwide.

According to the latest Short-Term Energy Outlook (STEO) from the US Energy Information Administration (EIA), industrial natural gas consumption in the United States averaged a record 23.6 billion cubic feet per day (bcfd) in 2025, exceeding the previous high of 23.4bcfd recorded in 2023.

The projections suggest that rising industrial demand is no longer merely cyclical, but increasingly tied to deeper structural shifts in manufacturing, energy trade flows and global supply-chain realignment.

The EIA expects industrial gas consumption to rise by another 1.2 per cent, or 0.3bcfd, in 2026, followed by an additional 1.7pc increase, or 0.4bcfd, in 2027.

At the centre of the trend is sustained expansion in energy-intensive manufacturing sectors, including petrochemicals, fertilizers, metals processing and export-oriented industrial production. These industries continue to benefit from the United States’ relative energy cost advantage compared with Europe and parts of Asia, where fuel prices remain significantly higher.

However, the pace of growth is being moderated by ongoing efficiency improvements across industrial operations.

“Continued efficiency improvements reduce the amount of natural gas needed per unit of output,” the EIA noted, indicating that overall demand growth would likely have been substantially higher without technological gains in industrial energy use.

Iran war intensifies pressure on global oil markets

The revised US energy outlook comes amid escalating geopolitical tensions in the Middle East, where the Iran war has evolved into one of the most significant threats to global energy security in recent years.

The EIA this week sharply revised its assumptions for global oil supply disruptions, warning that interruptions to Middle Eastern exports are likely to be both deeper and more prolonged than previously anticipated.

Central to the disruption is the Strait of Hormuz, the world’s most strategically important oil transit chokepoint, through which roughly one-fifth of globally traded crude oil normally passes.

The agency now assumes the strait will remain effectively closed through the end of May, extending earlier expectations that disruptions would ease by April.

That revision significantly alters the global supply outlook.

According to the EIA, approximately 10.5 million barrels per day (mbpd) of oil production was shut in across the Middle East in April. The agency now expects disruptions to rise further to 10.8mbpd this month as regional storage facilities approach capacity limits.

The latest figures also reflect expectations that Iran will face additional export constraints as the US blockade continues to disrupt shipping routes through the Strait of Hormuz.

Notably, the updated estimates are substantially higher than the EIA’s earlier forecast, which projected peak supply losses of 9.1mbpd in April.

Inventory drawdowns signal sustained tightness

The widening supply deficit is expected to accelerate the depletion of global oil inventories, reinforcing expectations that energy markets could remain tight well beyond the immediate geopolitical crisis.

The EIA now forecasts global oil stockpiles will decline by 2.6mbpd this year — a dramatic upward revision from its earlier estimate of roughly 300,000 bpd.

Such a rapid inventory drawdown suggests the market is increasingly relying on stored crude to offset supply shortages, a dynamic that historically amplifies price volatility and raises the risk of sustained inflationary pressure.

The tightening global market is already feeding directly into the US energy system.

According to the EIA, inventories of crude oil, gasoline and distillates in the United States have all fallen sharply as domestic producers increase exports to compensate for supply shortages abroad.

Distillate inventories — including diesel and heating oil — recently fell to their lowest levels since 2005, highlighting the strain on refined fuel markets.

Although US refineries are operating at elevated utilisation rates, domestic fuel supplies remain constrained because of exceptionally strong overseas demand for refined petroleum products.

During the week ending May 1, US petroleum product exports reached 8.2mbpd, including gasoline, diesel and jet fuel. That figure was more than 1.5mbpd higher than the same period last year.

US emerges as shock absorber for global energy markets

The data increasingly point to the United States functioning as the primary stabilising supplier in global energy markets.

As disruptions in the Gulf region remove crude supplies from international markets, global consumers are relying more heavily on US crude exports, refined fuels and liquefied natural gas.

That dynamic is strengthening revenues and export opportunities for American energy producers, particularly natural gas suppliers and refiners. However, it is also creating domestic economic trade-offs.

Higher export volumes are tightening US fuel availability and contributing to rising gasoline and diesel prices for American consumers, adding to broader inflationary pressures across transportation, manufacturing and household energy costs.

The situation also underscores a growing divergence between the oil and natural gas sectors.

While oil markets remain vulnerable to geopolitical disruptions because of concentrated supply routes in the Middle East, the United States’ large domestic natural gas reserves continue to provide relative supply stability. That advantage is increasingly reinforcing the role of natural gas as both an industrial feedstock and a strategic energy buffer during periods of global oil-market instability.

Analysts say that if instability in the Gulf persists, the global energy system could experience a longer-term reconfiguration of trade flows, with the United States assuming an even larger role in supplying both natural gas and refined fuels to international markets.

In that scenario, elevated energy prices, stronger US export demand and structurally higher industrial gas consumption may become defining features of the global energy landscape over the next several years.

A driver injured seven people, four of them badly, when he drove on a sidewalk in the northern Italian city of Modena on Saturday and then got out possibly holding a knife, the mayor said.

Early eyewitness accounts said the driver, aged in his 30s, apparently “aimed for the sidewalk, hitting a bike, then crashed while slamming head-on into a woman, badly hurt with both legs crushed”, mayor Massimo Mezzetti told local media and the ANSA news agency.

The car then crashed into a shop window.

“He was seen with a knife in his hand, but he didn’t manage to stab anyone.

It seems like he was trying to hit someone,” the mayor said.

Police have arrested the driver and are questioning him, he added.
Mezzetti told RaiNews channel that four of the seven hit had been seriously injured.

One witness told Italian broadcasters the car had arrived at high speed on Emilia Centro street, which is very busy on Saturday afternoons.

“I heard impacts and I saw people getting run over, ” he said.

“The car got to me and I managed to throw myself to the ground,” said the man, whose head was bloodied.

“The driver seemed to be high or drunk, he didn’t seem to be in a normal state. ” He and several other pedestrians chased him down when he tried to run off, disarming him after he produced a knife, he added.

The mayor, Mezzetti, thanked “those citizens who showed courage and civic duty”.

He added: “We need to understand what’s behind this act. But it was a dramatic event.

“I am deeply shaken. Whatever it was, it was extremely serious. If it turns out to be an attack, that would be even more serious,” Mezzetti said.

Minister-in-Charge of the Establishment Division Senator Ahad Khan Cheema on Friday attributed the high failure rate in the Central Superior Services (CSS) examinations to inadequate academic preparation, the competitive nature of the test and other factors.

The question was raised by PPP Member of the National Assembly (MNA) Sehar Kamran, who asked about the mechanism, criteria and process of the civil service examination for the induction of civil servants, as well as the reasons behind its high failure rate.

She further inquired if the existing examination system is aligned with international testing standards.

In a written reply to the National Assembly, Cheema highlighted that there were an average of 125–133 candidates for each CSS vacancy, with an average of 200–225 vacancies against 25,000–30,000 applicants.

His response attributed the high failure rate in the CSS examinations to weak academic preparation, poor analytical skills, low comprehension levels and the highly competitive nature of the recruitment process for the country’s civil services.

Induction into the federal civil services takes place through the annual CSS examination administered by the Federal Public Service Commission (FPSC) for recruitment into 12 occupational groups and services, including the Pakistan Audit and Accounts Service, the Commerce and Trade Group, and the Foreign Service of Pakistan.

The examination comprises four stages, including the MCQ-Based Preliminary Test (MPT), written descriptive examination, psychological assessment and viva voce. Final merit is determined based on aggregate marks obtained in the written examination and interview, subject to qualifying thresholds.

The government said candidates are required to secure at least 40 per cent marks in compulsory subjects, 33pc in optional subjects and 50pc aggregate marks in the written examination, while failure in any single subject results in disqualification.

Cheema revealed that a significant number of candidates failed in the compulsory English essay and English precis and composition papers due to weak academic background, poor analytical ability and inadequate understanding of essay topics.

The response to MNA Kamran further noted that many candidates failed to present arguments in a coherent and logical manner, while weak comprehension and poor written expression remained major concerns.

Examiners observed that the standard of responses was often below the expected graduation level.

Additionally, authorities identified the wrong selection of optional subjects, excessive reliance on coaching academies and appearing in examinations without substantial preparation among the major reasons behind low success rates.

The reply to the NA maintained that the CSS remains a highly competitive examination aimed at selecting the best possible candidates for civil service.

It added that the structure of Pakistan’s civil service examination is broadly aligned with regional models, including India’s UPSC and Bangladesh Civil Service examinations.

The CSS syllabus, last revised in 2016, is once again under review. The Civil Services Reforms Committee is examining the overall structure of CSS examination system for possible improvements.

BANNU: Police have killed a highly wanted commander involved in the suicide attack on Fateh Khel Police Post along with his accomplice during “Operation Intiqam-e-Shuhada” (Operation Revenge of the Martyrs).

The police claim to have eliminated five terrorists within the last 24 hours.

At least 15 police personnel were martyred last week after a suicide attack on the Fateh Khel police post in Bannu district. The terrorists launched their attack on the post by ramming a vehicle laden with explosives.

Under the special directives of RPO Sajjad Khan, Bannu Police have intensified decisive operations against militants across the district. Following the attack on a police post, multiple intelligence-based operations (IBOs) were carried out in the district.

According to police officials, the killed militants include Hiyatullah, a key target killer of the Zargul group; Asad Yar, who was involved in the attack on Checkpost Fateh Khel; along with Nimatullah, Commander Mansoor, and one unidentified militant.

Police further claimed that the slain terrorists were involved in multiple attacks on security forces, the Counter-Terrorism Department and civilians.

The operations were conducted by specialised police teams under the close supervision of RPO Bannu, using modern intelligence and effective tactical strategies.

Bannu Police said that there is no space left for militants and their facilitators in the district, adding that operations will continue until lasting peace is fully restored.

A militant body was tied to an armored vehicle and paraded through the city as a warning and to serve as an example.

Meanwhile, civil society and local residents praised Bannu Police for their successful operations and commitment to maintaining law and order in the area.

Police Peace Committee launches operation

The Police Peace Committee on Saturday launched an operation titled “Operation Revenge of the Martyrs” in Bannu amid rising insecurity and militant violence in the district.

The announcement was made during a meeting held at Bannu Police Lines, where committee members discussed the law-and-order situation, counter-terrorism measures, and public cooperation in detail.

Speaking on the occasion, Peace Committee President Hazrat Ullah said operations against militants would continue with “full force” and the blood of police martyrs would not go unavenged.

He emphasised that ensuring the protection of life and property was a shared responsibility of the police and the peace committee, adding that all available resources would be utilised for this purpose.

The meeting reaffirmed the resolve that the public must support the police in restoring lasting peace in the district and warned that indiscriminate action would be taken against militants and their facilitators.

The committee also announced that hujras and houses allegedly being used by militants would be reclaimed, while individuals suspected of maintaining links with militants would be required to clarify their position.

It was further decided that the committee would remain completely non-political and that the public would be able to submit complaints regarding police conduct to the committee so that immediate steps could be taken for redress.

The committee leaders reiterated their commitment to continue operations until the complete elimination of militants and to take every possible step for the restoration of peace in the district.

Bannu district has been the scene of repeated security incidents in recent months, with both civilians and local security forces coming under attack amid a broader surge in militant violence.

Violence in Bannu has included attacks on police and jirga members, prompting targeted operations by police and security forces in various localities to disrupt militant networks.

Litton Das struck a century to rescue Bangladesh from a top-order collapse, as the hosts posted 278 in their first innings of the second and final Test against Pakistan on Saturday.

Pakistan reached 21-0 at stumps in reply with Azan Awais on 13 and Abdullah Fazal on 8 in Sylhet.

Batting at number six, Litton struck 16 fours and two sixes in his 159-ball 126, his sixth Test century, after Bangladesh had been reduced to 116-6 after lunch.

Pakistan, trailing 1-0 in the two-match series after a 104-run defeat in Mirpur, opted to bowl and the decision immediately paid off.

Opener Mahmudul Hasan Joy fell for a duck, edging Mohammad Abbas to second slip off the second ball of the match.

Debutant Tanzid Hasan made a bright start, striking three boundaries in a fluent 26 off 34 balls, but threw his wicket away attempting an ambitious pull shot off Abbas, who took the catch off his own bowling.

Mominul Haque was bowled for 22 by Khurram Shahzad.

Captain Najmul Hossain Shanto and Mushfiqur Rahim steadied the ship with a 43-run stand.

But both fell after lunch as Bangladesh lost three wickets for 15 runs.

Shanto edged Abbas behind for 29, Mushfiqur departed LBW for 23 and Mehidy Hasan Miraz was caught at deep fine leg for four to leave the hosts 116-6.

Litton added 60 runs with Taijul Islam (16) off 114 balls for the seventh wicket and brought up his 50 off 93 balls.

He took just 42 balls more to reach three figures with a cover drive off Shahzad, and then hit the next ball for six.

He added 38 with Taskin Ahmed and a crucial 64 with Shoriful Islam off 73 balls for the ninth wicket.

“The most important thing in this innings is that Taijul, Taskin and Shoriful all batted well and faced a lot of balls,” Litton said.

Pakistan missed two review opportunities when replays showing faint edges off Mushfiqur and Litton went unchallenged by captain Shan Masood.

“We were getting wickets early on. Unluckily, we missed a couple of reviews,” said Shahzad.

“If we had gotten them out there, the situation would have been completely different.”

LAHORE: Law Minister Azam Nazeer Tarar on Saturday said he saw “no indications” of the 28th Constitutional Amendment, but noted that whenever it is introduced, it would be discussed with coalition partners.

Speaking to journalists after a conference on minority rights, Tarar clarified that constitutional amendments are not possible without consultation with coalition partners.

He added that meetings with all stakeholders are underway, and several issues remain unresolved. Tarar elaborated that some issues need a solution, but there should be consensus on them.

“Legislation is an ongoing process,” the law minister explained.

He asserted that, in the case of the 28th Amendment, all coalition partners would first be taken into confidence.

“The constitutional changes can be introduced, [but] only if an agreement is reached,” he added. He recalled that the 18th Amendment was also introduced with a consensus amongst political parties.

To a query, Tarar revealed that the issues of population control and the creation of Hazara and Saraiki provinces are part of ongoing discussions.

He also pointed out that the Muttahida Qaumi Movement has been demanding constitutional amendments aimed at strengthening local government systems.

Tarar said that the coalition government has been in place for several years and has faced multiple challenges, which can only be resolved through consensus.

PPP Chairman Bilawal Bhutto-Zardari on Thursday said that the government had not contacted him or his father, President Asif Ali Zardari, regarding a constitutional amendment.

“President Zardari and I remain in contact with Prime Minister Shehbaz Sharif, but the government has not contacted the PPP regarding any constitutional amendment,” the PPP chief said at a press conference after chairing the parliamentary party meeting at the Parliament House in Islamabad.

“The PPP’s role in the 26th and 27th constitutional amendments is evident to everyone. We did not allow the rights of the provinces to be reduced; instead, we expanded them. Through our amendments, Balochistan’s representation in the Senate increased,” he added.

Last November, Adviser to the Prime Minister on Political Affairs Rana Sanaullah said that a 28th Constitutional Amendment, dealing with “public issues”, could be introduced if there is political consensus.

President Donald Trump’s visit to Beijing this week may have produced modest results by the standards of US-China summits but it highlighted a clear benefit for China: after the extremes of last year’s trade war, the countries have reverted to their familiar economic and strategic standoff.

Two days of talks between Trump and Chinese leader Xi Jinping underscored that even after Trump’s “Liberation Day” tariffs and the ensuing trade detente the two sides reached late last year, Washington and Beijing are still locked in the contest that Trump inherited when he started his second term.

For the United States, that means that the most troubling aspects of the relationship — from what it considers Beijing’s mercantilist trade policies to its efforts to increase its military clout in the Indo-Pacific — remain largely unaddressed.

But for Xi it offers some breathing room and a return to a more predictable set of challenges. He appeared to describe the change this week with a new framework for the countries’ relations he called “constructive strategic stability.”

Trade War Truce

China came out ahead, given the retreat from the Trump administration’s brash approach on trade from early 2025, said Scott Kennedy, a China expert at Washington’s Center for Strategic and International Studies.

“Compared to where we were a year ago, with 145pc tariffs and the US really trying to push China and the rest of the world to fundamentally change, we’ve had a counterrevolution and we’re back at stability,” Kennedy said.

Trump brought to the Thursday-Friday summit some of America’s most powerful executives, from Tesla’s Elon Musk to Nvidia’s Jensen Huang, but most had little to show for their time, aside from a lavish banquet.

The meeting also did not secure any public commitment from China to help the US end the war in Iran that has roiled global markets and dented Trump’s approval ratings.

“The summit projected stability but it left the stalemate intact,” said Craig Singleton, a China expert at the Foundation for Defense of Democracies.

It “produced modest, marketable and managed outcomes, which is about all the US-China relationship can bear right now.”

Asked for comment, a White House official said, “President Trump leveraged his positive relationship with President Xi of China in order to bring home deliverables for the American people,” citing the sale of Boeing aircraft and agricultural agreements to expand American exports.

A spokesperson with the Chinese embassy in Washington called the meetings between Xi and Trump “candid, in-depth, constructive and strategic,” adding that they “explored the right way for two major countries to get along with each other.”

With last year’s trade war, Trump appears to have overestimated the power of tariffs to coerce China into unilateral concessions, analysts say. Beijing retaliated with its own tariff hikes and threatened to choke off supplies of critical minerals needed by US industries, forcing an uneasy standoff.

Since then, the White House has shown itself unwilling to bear the economic consequences that would come with applying the other forms of US financial and technological leverage, such as sanctions on China’s major banks.

Reflecting the change in tone, there was no public mention this week of many long-standing US demands, such as for China to address industrial overcapacity that its trade partners say unfairly floods their markets with low-cost goods.

China appears content with the fragile truce as it navigates a weak domestic economy and seeks to shore up technologies it hopes will turn the tide in long-term competition with the US.

Senior Trump administration officials had downplayed a desire for big outcomes even in the run-up to the meeting, saying there was no rush to extend a trade truce, expiring in five months, which the leaders reached after talks in South Korea in October.

‘Below Expectations’

A person familiar with the trade negotiations said China wanted a longer extension of the truce than the Trump administration was willing to give, as well as reassurances over pending US investigations likely to revive some tariffs on goods entering the US that were struck down by the Supreme Court this year.

Overall, neither side put much on the table for the summit, the source told Reuters, adding that some commercial deals could be saved for the fall, when Xi is expected to make a reciprocal visit to the White House.

The source requested anonymity to speak candidly about the negotiations.

The summit’s thin commercial results contrast with Trump’s 2017 visit to China, when companies accompanying him signed deals and memorandums of understanding valued at $250 billion.

This week’s meeting produced no breakthrough on selling Nvidia’s advanced H200 artificial intelligence chips to China, likely to the relief of Republican and Democratic China hawks in Washington, who had warned the administration against feeding China’s AI development.

Though still not confirmed, Trump said Boeing had sealed a deal for China to purchase 200 jets, well below the 500 anticipated and the 300 Beijing agreed to purchase during the 2017 visit.

The White House official said the US had established a new Board of Trade that US officials had mentioned as a joint mechanism to lower tariffs on non-sensitive goods, but offered few details.

Wendy Cutler, a former acting deputy US Trade Representative, called the economic deliverables “way below expectations.” For China, however, the meetings were a positive move toward clear-eyed competition, said Cui Shoujun, a professor of international affairs at Renmin University in Beijing.

The summit showed that Washington and Beijing are “no longer aspiring to pull China-US relations back to a cooperative golden age, but instead acknowledging the long-term nature of competition and disagreement,” he said.