The International Monetary Fund has asked Pakistan to spend money on the parliamentarians’ projects through regular approval processes by abandoning a special treatment and again urged to avoid mid-year budget adjustments without prior approval of parliament.
The IMF has also emphasised the importance of a budget strategy paper by recommending its publication six months before the presentation of the budget in a move that runs contrary to the finance ministry’s practice of not timely publishing the strategy documents.
To enhance transparency, efficiency and affordability of the Public Sector Development Programme (PSDP), there is a need to integrate parliamentarians’ projects into the PSDP process, stated the IMF in its Governance and Corruption Diagnosis Assessment report.
The government is supposed to officially release the report by the end of this month.
Unlike the approval of any project by the Central Development Working Party or the Executive Committee of the National Economic Council, the parliamentarians’ schemes are approved by a Steering Committee on SDGs Achievements Programme without much scrutiny. Deputy Prime Minister Ishaq Dar chairs the steering committee.
These are small-scale schemes of community welfare, which also fall in the domain of the local governments barring the provision of electricity and gas.
In the last fiscal year, the government had spent at least Rs61 billion on the parliamentarians’ schemes and Rs70 billion has been allocated for the current fiscal year for these small-scale projects. There have also been voices from within the country against spending on these schemes outside PSDP, which can cause wastage and less spending on the ground than the approved budgets.
The IMF has also recommended limiting the PSDP allocations for new projects to only 10% of the total allocations in order to avoid thinning out already sacred resources. There is a tendency in every government to announce and approve new projects despite the fact that the existing projects require over a decade for completion due to limited resources.
The IMF has asked the Ministry of Planning to rationalize the PSDP portfolio by retaining only high priority projects. The political expediency has distorted the PSDP allocations and the federal government spends on the projects, which are in the areas that are not even the responsibility of the center.
The government has also been running small schemes through the PSDP and funds allocated for these projects are also often misused. The planning ministry did not comment on this article.
Pakistan’s overall public finance management remains weak and there is also a little appetite in the government for ensuring transparency and involving the cabinet and the Parliament in the pre-budget discussions.
The Ministry of Finance this year did not take the Budget Strategy Paper to the federal cabinet for its approval in violation of an Act of the Parliament.
However, the IMF has recommended that the Finance Ministry should advance the calendar of presenting and publishing the budget strategy paper to January and include macroeconomic and fiscal indicators in these papers. The budget is presented in June.
The global lender has further recommended that the government should also analyze the accuracy of previous macroeconomic forecasts and budget estimates after the end of the fiscal year.
The IMF, which since long has been urging Islamabad to abandon the tool of supplementary grants, again asked the government to respect Parliament’s supremacy. It has recommended that the government should avoid mid-year budget adjustments without getting the Parliament’s prior approval. In order to meet unexpected expenditures like natural disasters the IMF has recommended maintaining a contingency pool for such spending.
Currently, the government issues supplementary grants during the course of the fiscal year and gets the ex-post facto approval of the spending from the Parliament. Sometimes there are unforeseen expenses like the Rs5.8 billion allocation for flood-affected areas of the country on Tuesday.
But there has also been a practice to defer some expenditure at the time of approval of the budget to keep the overall size limited to the requirement of the IMF.
For instance, the Finance Ministry did not approve a subsidy for foreign remittances scheme in the budget due to limited space available. However, after the intervention of the Prime Minister’s Office, it authorized a Rs30 billion supplementary grant a few days ago out of the contingency expenditure pool.
The fiscal year has just begun and the government has already started the process of giving supplementary grants to various ministries.
The Economic Coordination Committee on Tuesday approved a supplementary grant of Rs250 million for the National Security Division for its Strategic Policy Planning Cell. The expenses on setting up the cell should have been made part of the regular budget approved in June.
The ECC on Tuesday, on a proposal from the Finance Division, also approved the subsidy for RAAST QR Code based person-to-merchant payments to the tune of Rs3.5 billion.
In another important recommendation, the IMF has proposed to amend the Public Procurement Regulatory Authority law and rules to bring an end to preference in procurements for the state-owned entities and charitable organizations. It has urged the government to bring these changes aimed at ensuring transparency, efficiency and accountability in the public procurement process.
President Donald Trump is pursuing an unusual strategy — courting Russian President Vladimir Putin, holding fire on Beijing, all the while turning the screws on a close ally: India. Despite India being one of the earliest nations to engage in negotiations with the Trump administration, there is still no sign of it sealing a deal with the U.S. New Delhi is now also staring at a secondary tariff of 25% or a “penalty” for its purchases of Russian oil that is set to come into effect later this month. U.S. Treasury Secretary Scott Bessent on Tuesday escalated criticism against India, accusing it of profiteering from cheap Russian oil imports and threatening to further raise tariffs on Indian goods. “We have planned to up the tariffs on India — these are secondary tariffs for buying the sanctioned Russian oil,” Bessent told CNBC on Tuesday. Earlier this week, White House trade advisor Peter Navarro condemned the Asian giant’s dependence on Russian oil as “opportunistic” and undermined international efforts to isolate Russia’s war economy. “India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs,” Navarro said in an op-ed for the Financial Times . By now the world is getting used to the ad-hoc and sometimes contradictory ways in which the Trump administration is pursuing its agenda. Professor at the East Asian Institute at the National University of Singapore Bert Hofman The sharp rhetoric threatens to unravel years of improving ties between Washington and New Delhi — with India saying the U.S. was targeting it unfairly over its Russian oil purchases. “By now the world is getting used to the ad-hoc and sometimes contradictory ways in which the Trump administration is pursuing its agenda,” said Bert Hofman, professor at the East Asian Institute at the National University of Singapore. India has emerged as a leading buyer of Russian oil, which has been sold at a discount since some Western nations shunned purchases and imposed restrictions on Russian exports over Moscow’s invasion of Ukraine in 2022. It was the second-largest purchaser of Russian oil, importing 1.6 million barrels per day in the first half of this year, up from 50,000 bpd in 2020, though still trailing China’s 2 million bpd imports, according to the U.S. Energy Information Administration. Washington has not placed secondary tariffs on China for its Russian oil purchases. India has reiterated that it was the U.S. administration that had asked it to purchase Russian oil to keep the markets calm, while pointing to the European Union and even the U.S.’ existing trade with Moscow. The country has taken aim at Washington, saying U.S. continues to import uranium hexafluoride for its nuclear industry, palladium for the electric-vehicle industry, as well as fertilizers and chemicals from Russia. U.S. bilateral trade with Russia in 2024 stood at $5.2 billion, down from nearly $36 billion in 2021, government data showed. Bilateral trade between New Delhi and Moscow reached a record $68.7 billion for the year ended March 2025. In comparison, the European Union’s trade with Russia stood at 67.5 billion euros ($78.1 billion) in 2024, while its services trade in 2023 was at 17.2 billion euros, according to European Commission data . “India has been victimized by these pressure tactics that that the Trump administration is trying to carry out. Trump is clearly using tariffs as a pressure tactic against Russia,” Michael Kugelman, director of the South Asia Institute at Washington-based think tank Wilson Center, told CNBC’s ” Squawk Box Asia .” Another factor determining the U.S. approach to India is that Trump feels “aggrieved,” over how Modi undercut his bid to claim credit for playing a role in the India-Pakistan ceasefire, Kugelman emphasized. Adding to Trump’s grievances is India’s “unwillingness to lower barriers” to exports of American agricultural products such as soybeans and corn, Kevin Chen Xian An, associate research fellow at S. Rajaratnam School of International Studies pointed out. Oil trade for ceasefire Trump’s true agenda has little to do with Washington’s stated goal of curbing Moscow’s oil revenues, but extracting leverages from the trading partners, according to several geopolitics experts. “The overarching objective for the Trump administration is to extract concessions from countries to figure out some justification for levying taxes on trade so that the government can fund its tax reductions on American citizens’ income,” said Drew Thompson, senior fellow at the think-tank RSIS. “It’s not based on foreign policy principles [but] on power politics and gaining leverage,” Thompson added. Last week, Trump rolled out a red carpet to greet Putin on his first visit to the U.S. in about a decade, sharing a ride with him in the presidential limousine to the venue. While the meeting did not appear to have produced meaningful steps toward a ceasefire in Ukraine — a goal U.S. had set ahead of the summit — but Trump described the meeting as “productive.” Speaking at the joint news briefing following the talks , Putin reiterated that “for the conflict resolution in Ukraine to be long-term and lasting, all the root causes of the crisis … must be eliminated; all of Russia’s legitimate concerns must be taken into account.” Kirill Dmitriev, one of Putin’s top negotiators, hailed Monday’s talks in Washington as an “important day of diplomacy,” emphasizing Moscow’s opposition to any short-term ceasefire deal with Ukraine. Trump is trying to “maximize his leverage … pressuring India, and Russia via India,” to get a trade deal with the former and a ceasefire pact with the latter, said Matt Gertken, chief geopolitical and U.S. strategist at BCA Research. These will eventually help boost Republicans’ prospects in the upcoming midterm election, Gertken added. Not provoking China While India faces steep tariffs for its purchases of Russian crude, China, which has remained the largest importer of Russian crude, has been spared such levies. Trump said last Friday he was not considering retaliatory tariffs on China for buying Russian oil, but might consider it in two or three weeks. China’s purchases of Russian oil have risen to 46% of overall exports from Russia in the first half of this year, from 34% in 2022, according to the U.S. Energy Information Administration, followed by India which imported around 36% of Russia’s supplies. When asked about China’s role in Russian oil purchases, Bessent suggested that Beijing’s imports were less egregious in the eyes of the Trump administration because it had already been a big buyer even before Russia invaded Ukraine. Going soft on China may also reflect Trump’s desire not to scuttle a potential high-profile summit with Chinese President Xi Jinping in the coming months and the conclusion of a lasting trade deal, said Stephen Olson, a senior visiting fellow at ISEAS-Yusof Ishak Institute. The secondary tariffs on India may be intended as “a shot across Russia’s bow” to show that the U.S. could turn up the pressure by extending similar tariffs to China, if Russia is not more compliant, Olson added. Following weeks of escalating tensions, Beijing and Washington agreed in May to suspend the hefty duties and loosen several punitive measures imposed in April, as both sides continued to work on hammering out a durable deal. Beijing has leveraged its sheer dominance of rare-earth minerals crucial for military and industrial use in its negotiations with Washington, maintaining a tight control on exports of the critical minerals. The relationship with China is complicated, and the Trump administration has not yet come out with “a clear, coherent policy toward China. Sometimes it seems like it wants to compete with China economically. Other times it seems like it wants to reach some type of understanding or a or a detente,” Kugelman said.
We’re always looking for ways to improve the Stab user experience. You’re always looking for ways to get new surfboards.
You scratch our back, we scratch yours.
Once again, the time comes for our annual Audience Survey — you can take this year’s version here. This time, we’re giving away one surfboard each to Europe, Australia, and North America, as well as one wetsuit to each region. Plus, we’ll be going through and randomly selecting people to win Stab Premium yearly memberships, boardshorts, and pairs of fins.
For fear of skewing the results, we can’t tell you brands of said board or wetsuit in advance, but… trust us, you won’t be disappointed. And yes, you have to complete the survey to be in the running.
Why do we do this every year? Because we want to know more about our audience so we can better serve you. What we learn helps us shape our creative projects and partnerships — for example, Kelly Slater for Stab In The Dark was an obvious decision, seeing as he’s featured at the top of our SITD Audience Survey section every year for the past few years. Ditto about M-Feb and EAST.
The survey also makes for some fascinating articles, some of which you can read here and here.
Moscow has said it must be part of any international talks on Ukraine’s security, as Russia continues to stall on Donald Trump’s push for a meeting between Vladimir Putin and Volodymyr Zelenskyy.
Russia’s foreign minister, Sergei Lavrov, said on Wednesday that Moscow must be included in any talks on Ukraine’s security guarantees, dismissing European diplomacy as “aggressive escalation” and a “clumsy effort to sway Trump”.
“To discuss security guarantees seriously without Russia is a road to nowhere,” Lavrov said during a working visit to Jordan.
Lavrov also said that China, Russia’s ally in the war, should be among Ukraine’s security guarantors – reviving a proposal first put forward by Russian negotiators during talks in Turkey in spring 2022.
European leaders have begun exploring post-conflict security guarantees for Ukraine, following Trump’s pledge to help protect the country under any deal to end Russia’s war.
Russian officials have repeatedly said Moscow would not accept the deployment of European forces to Ukraine, one of the key security guarantees under discussion.
Kyiv is likely to view with scepticism any prospect of China, a supporter of Russia during the war, acting as a security guarantor.
Lavrov, meanwhile, avoided any direct reference to a possible Putin-Zelenskyy summit, highlighting the Kremlin’s apparent plans to delay any concrete planning of a meeting.
Trump announced this week he had “begun the arrangements” for the first meeting between the two leaders since the start of Russia’s full-scale invasion.
Trump later claimed he had set up a bilateral meeting between Putin and Zelenskyy, explaining: “I thought I’d first let them meet.”
Opening direct talks with Zelenskyy would cut against the storyline Putin has cultivated since the 2022 invasion – portraying Ukraine’s president as an illegitimate figure and a mere puppet of the west.
Putin, who almost never refers to Zelenskyy by name and instead speaks of the “Kyiv regime”, has repeatedly cast doubt on whether his Ukrainian counterpart even holds the authority to sign a peace agreement. “You can negotiate with anyone, but because of his illegitimacy, he [Zelenskyy] has no right to sign anything,” Putin told Russian officials earlier this year.
But Trump’s promise of a meeting puts Putin in a difficult spot: rejecting it risks tension with the US president, while agreeing to one would elevate Zelenskyy to equal status and confront Putin with a media-savvy rival ready to meet almost without preconditions.
Moscow has shown scant sign of preparing for such an encounter.
Lavrov cautioned on Wednesday that any contact between the two leaders would need to be arranged “with the utmost care”, while other Russian officials dismissed Zelenskyy as a lightweight unworthy of serious attention.
But, as often is the case, Moscow has avoided closing the door entirely, hinting that the Putin–Zelenskyy encounter could take place, while giving no sign that it is actually on the horizon.
Several countries have offered to host a possible Putin-Zelenskyy meeting, including the Vatican, Switzerland and Hungary.
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The Russian leader reportedly suggested to Trump that his counterpart travel to Moscow for talks – an idea Russia knew Kyiv would reject because of the obvious risks to Zelenskyy’s safety.
Analysts suggested that the Russian leader would probably only meet Zelenskyy to accept Russia’s maximalist conditions, which would equal Ukraine’s capitulation.
“Putin will not meet Zelenskyy under the current circumstances,” said Tatiana Stanovaya, a senior fellow at the Carnegie Russia Eurasia Center. “He has repeatedly stated that such a meeting would only be possible if there were well-prepared grounds, which in practice means Zelenskyy’s acceptance of Russia’s terms for ending the war.”
Figures close to the Kremlin have emphasised that Putin sees no need to rush into a meeting with Zelenskyy.
“Simply put, Putin only sees value in a meeting with Zelenskyy if it ends with a capitulation,” wrote the nationalist commentator Alexei Mukhin. “If Zelenskyy is unwilling to sign one, the Kremlin will keep ‘working on’ the idea of a meeting until he is,” Mukhin added.
Putin now faces a situation reminiscent of earlier moments when Trump pressed him to agree to a ceasefire. At the time, he managed to manoeuvre around the pressure, and analysts believe he is likely to take a similar approach now – downplaying the prospect of talks without rejecting them outright.
The key question is whether Trump will seek to put pressure on Kyiv to accept some of Russia’s demands to clear the way for a meeting between the two leaders.
Russia’s leadership on Wednesday showed no sign of compromise. Lavrov said the US was beginning to gain a clearer understanding of the “root causes” of the war – a phrase Putin has used to describe demands ranging from Ukraine’s formal renunciation of Nato membership to its “demilitarisation” and “denazification”, a vague formula that in practice would mean removing Zelenskyy.
The Russian foreign minister also pointed to the April 2022 talks in Turkey between Russia and Ukraine as a model. Those failed negotiations centred on Moscow’s demands for Ukraine’s disarmament, political neutrality and the abandonment of its ambition to join Nato.
Meanwhile, Russian officials told Reuters that Moscow was preparing to raise taxes and cut spending to sustain high defence outlays and keep the war effort going.
A remarkable fossil discovery dating back more than 120 million years has revealed the existence of a two-headed Hyphalosaurus, a small, long-necked aquatic reptile that lived during the Early Cretaceous period. Unearthed in the Yixian Formation of northeastern China, this unique specimen shows clear signs of axial bifurcation, a rare developmental anomaly in which an embryo begins to split into twins but fails to complete the process, resulting in a single organism with two heads.Although similar malformations have been observed in modern-day reptiles such as snakes, lizards, and turtles, this fossil is the oldest known example of such a condition in the vertebrate fossil record. The discovery, published in a 2007 study by Buffetaut and colleagues in Biology Letters, offers important insight into the occurrence of congenital defects in ancient species. It also provides a fascinating glimpse into the biological and evolutionary challenges faced by early reptiles, adding a rare developmental perspective to paleontology and evolutionary biology.
Fossil discovery explains axial bifurcation in two-headed hyphalosaurus
Axial bifurcation is a rare developmental anomaly that occurs during early embryonic growth, where the vertebral column begins to split longitudinally, resulting in two parallel cervical (neck) series and the formation of two distinct skulls and necks. This incomplete twinning process leads to the development of conjoined heads, a condition that is extremely uncommon in reptiles and other vertebrates. In modern species such as snakes and turtles, axial bifurcation is occasionally observed but usually results in non-viable or short-lived offspring due to complications in mobility, feeding, or organ function.The two-headed Hyphalosaurus fossil discovered in the Yixian Formation provides the earliest known evidence of this phenomenon in the fossil record. Measuring just 70 millimeters in length, the specimen is believed to be either a late-stage embryo or a newborn that did not survive beyond hatching. Despite its brief lifespan, the fossil’s exceptional preservation offers scientists a rare window into congenital malformations in ancient reptiles. It not only demonstrates that such developmental errors occurred as far back as the Early Cretaceous but also opens new avenues for understanding the evolutionary and genetic factors influencing vertebrate development in deep time.
Significance of the two-headed hyphalosaurus fossil discovery
The preservation of this two-headed Hyphalosaurus fossil is an extraordinary stroke of luck, considering that the fossil record captures only a minute fraction of all organisms that once lived. Developmental anomalies like axial bifurcation are rare to begin with, and their fossilization is even more unlikely. What makes this discovery even more remarkable is the specimen’s nearly pristine condition.The fossil remains partially embedded in sediment, and the surrounding stone slab is unbroken, lending strong support to its authenticity, a crucial point given the region’s history of fossil forgeries.According to the original 2007 study published in Biology Letters, this fossil represents the oldest confirmed case of axial bifurcation in any vertebrate. Its discovery not only sheds light on rare congenital conditions in ancient reptiles but also expands our understanding of how such anomalies have occurred throughout evolutionary history. It serves as a rare and valuable reference point for studying embryonic development, mutation, and survivability in extinct species.The Hyphalosaurus fossil discovery underscores the rarity of axial bifurcation and the value of well-preserved specimens in studying prehistoric life. While modern examples of two-headed reptiles exist, this dinosaur-age fossil offers a unique glimpse into evolutionary development and the challenges of survival for such anomalies.By examining fossils like this, scientists gain deeper insight into the diversity and complexity of life millions of years ago, emphasizing the continuing importance of paleontology in uncovering nature’s ancient mysteries.Also read| 26-million-year-old whale skull fossil found, sheds light on ancient marine life
The One UI 8 beta program will now be available on the Galaxy S24 series, Galaxy Z Fold6 and Galaxy Z Flip6
Samsung Electronics Co., Ltd. has announced the expansion of its ongoing One UI 8 beta program to additional compatible Galaxy devices. The update sets the foundation for advanced multimodal capabilities to more Galaxy devices across various form factors, along with more intuitive Galaxy AI[1] experiences that simplify everyday routines.
Initially introduced with the Galaxy S25 series in May, the One UI 8 beta program will now include the Galaxy S24 series, Galaxy Z Fold6 and Galaxy Z Flip6.
In September, availability will extend to even more devices, including the Galaxy S23 series, Z Fold5, Z Flip5, A36 5G, A55 5G, A35 5G, and A54.[2] Users can register for the beta program via the Samsung Members app.
One UI 8 delivers smarter, more convenient AI experiences through multimodal capabilities that understands users’ real-time context and supports more natural interactions. When paired with the Galaxy Buds3 or Buds3 Pro, users can activate Google’s Gemini[3] with voice or by long-pressing either earbud. Designed to complement Galaxy’s diverse form factors, One UI 8 enhances productivity and efficiency while offering personalised, proactive suggestions tailored to each user.
In September, Samsung will roll out the official version of One UI 8, incorporating valuable feedback from beta program participants. The update will begin with the Galaxy S25 series and will be rolled out sequentially to other eligible devices. In addition, One UI 8 Watch will expand to more Galaxy Watch models beyond the Galaxy Watch8 series later this year, delivering motivational health features and a more refined, intuitive smartwatch interface to a wider range of users.
[1] Galaxy AI features are currently free of charge, with any specific plans for premium AI services to be decided in close coordination with our partners. There are currently no plans to charge for Galaxy AI features, however different terms may apply to other AI features provided by third parties, at the end of 2025.
[2] Availability may vary by device model and market.
[3] Gemini is a trademark of Google LLC. Gemini Live feature requires internet connection and Google Account login. Compatible with certain features and certain accounts. Available on select devices and select countries, languages, and to users 18+.
Mercedes boss Toto Wolff believes that Valtteri Bottas is fully deserving of a Formula 1 comeback, amid the Finn’s links to the Cadillac F1 Team ahead of their debut 2026 season.
Bottas dropped off the F1 grid at the end of 2024, having lost a race seat at Kick Sauber, which led to him rejoining Mercedes in a reserve role alongside regular drivers George Russell and Kimi Antonelli.
Although he has not been racing, Bottas is still playing a key role at the Silver Arrows – a team he previously raced with from 2017 to 2021 – through simulator work and his presence at the track.
With the aforementioned Cadillac team set to arrive on the grid next year, and 10-time Grand Prix winner Bottas one of the names being tipped for a drive, Wolff has shown his support.
“Valtteri has been part of the Mercedes family for a long, long time,” began Wolff, talking in a mid-season review video for his team’s social media channels.
“He is a driver that, if some of our guys would have fish poisoning, you put him in the car and he’s going to be absolutely on [the] pace. That’s great to know, that your reserve and third driver is as quick as it gets.
“But obviously, with Valtteri, he deserves a race seat. Hopefully that door is going to open. Watch this space.”
Bottas himself has described Cadillac’s project as “very interesting” – the operation being backed by TWG Motorsports and General Motors, and led by former Virgin Racing/Marussia chief Graeme Lowdon.
“[It’s] something new to F1, an American team with maybe a different view to the sport,” he told F1’s Beyond The Grid podcast earlier this year. “If I would be there as a driver, it would be actually very interesting because you can start from scratch.
“The team starts from zero. You could actually make a big influence on certain things, which direction to go, and that would be very motivating and rewarding when the success comes.
“I think the rule change is always a good point to jump in because you just never know, if you suddenly get it right you might actually be doing really well from the get-go.”
Along with Bottas, another experienced pair of hands in former Red Bull driver – and six-time Grand Prix winner – Sergio Perez has been linked to Cadillac, who are yet to confirm either of their two drivers for 2026.
