The Pakistan Muslim League-Nawaz (PML-N) has nominated party leader Shehbaz Sharif as its prime ministerial candidate, moving Pakistan a step closer to a new government after a general election last week in which no political party achieved an outright majority.
Nawaz Sharif, a three-time prime minister and head of the PML-N, nominated his younger brother Shehbaz for the post on Tuesday after his main rival, Bilawal Bhutto Zardari of the Pakistan People's Party (PPP), dropped out of the race for the top job, spokeswoman Marriyum Aurangzeb said in a post on X.
Mr Bhutto Zardari said earlier on Tuesday that his party would support the PML-N's candidate and the new government, but would not join the cabinet.
Officials in both the PML-N and PPP said the parties had formed internal committees to discuss the modalities of government formation and that the agenda included getting PPP to join the administration and take cabinet positions.
"They are trying their level best but we are not joining the cabinet up until now," PPP leader Faisal Karim Kundi said.
Analysts say that Pakistan needs a stable government with political authority to be able to take tough decisions to help pull the country out of its economic crisis.
"Coalition governments can't work on this principle that one partner takes up all the load and the other partners watch the match from the sidelines and galleries," PML-N secretary general Ahsan Iqbal told Geo TV late on Tuesday.
"Everyone has to play the match together. This is why I am hopeful that this is a mature leadership that knows the problems the country is facing," he said, when asked about PPP joining Mr Sharif's government.
The parties began coalition talks at the weekend after the provisional election results showed that candidates affiliated with jailed former prime minister Imran Khan, who stood as independents, had won the most seats in the February 8 election.
Khan, a national cricketing hero, was disqualified from contesting the election by a series of recent convictions, while his Pakistan Tehreek-e-Insaaf (PTI) party was effectively barred after the election commission ruled that it could not field candidates under its election symbol, a cricket bat.
Candidates backed by Khan won 93 seats while the PML-N, considered the favourite before the vote, emerged as the largest party with 75 seats, followed by the PPP 54 seats.
Pakistan's system means a simple majority can be achieved with 169 of the 336 seats in the National Assembly. Only 266 of the 336 seats are contested directly in elections – the remaining 70 are reserved, with 60 for women and 10 for religious minorities.
Those seats are allocated to political parties based on proportional representation of the 266 elected seats. Under the rules, they cannot be allocated to independent candidates.
Independent candidates can join a party up to three days after the country's Election Commission officially declares the result.
'Respectable parties'
The PTI told The National on Tuesday that it would merge with the Majlis-e-Wahdat-e-Muslimeen party in Punjab province and on a national level, while also teaming up with the Jamaat-e-Islami party in Khyber Pakhtunkhwa province.
“Both parties are respectable parties. We had a seat adjustment with MWM and we have always maintained good relationships with Jamaat-e-Islami. So we have decided to merge with them in order to form a united government in KP and go into parliament as a merged party,” PTI spokesman Zulfikar Bukhari told The National.
Under the constitution, Pakistan's President Arif Alvi must convene the inaugural National Assembly session before February 29 so that its members can be sworn in. The parliament will later elect the new prime minister.
The new government's primary challenge will be tackling the economic crisis. The nation faces $25 billion of external debt payments in the fiscal year starting in July, about three times its foreign-exchange reserves. A $3 billion loan programme from the International Monetary Fund loan programme is set to end in April.
Shehbaz Sharif, who led a coalition of more than a dozen political parties to topple Khan and become prime minister in 2022, was crucial in breaking the deadlock and securing the current IMF programme after the country came close to bankruptcy last summer.
“Revolutionary steps are needed to take Pakistan out of the economic crisis and they can’t be possible without mutual understanding and consensus,” he said on Tuesday.
However, the PPP's decision to support the government from outside could lead to more political instability, analysts said.
“When the tide turns, the next prime minister will find that they are unable to maintain a majority in parliament, leading to yet another political crisis in Pakistan,” Uzair Younus, a non-resident fellow at the Atlantic Council, told Bloomberg News.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
MATCH INFO
Who: France v Italy
When: Friday, 11pm (UAE)
TV: BeIN Sports
A list of the animal rescue organisations in the UAE
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
First Person
Richard Flanagan
Chatto & Windus
MATCH INFO
RB Leipzig 2 (Klostermann 24', Schick 68')
Hertha Berlin 2 (Grujic 9', Piatek 82' pen)
Man of the match Matheus Cunha (Hertha Berlin
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
Aquaman%20and%20the%20Lost%20Kingdom
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20James%20Wan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Jason%20Mamoa%2C%20Patrick%20Wilson%2C%20Amber%20Heard%2C%20Yahya%20Abdul-Mateen%20II%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Australia tour of Pakistan
March 4-8: First Test, Rawalpindi
March 12-16: Second Test, Karachi
March 21-25: Third Test, Lahore
March 29: First ODI, Rawalpindi
March 31: Second ODI, Rawalpindi
April 2: Third ODI, Rawalpindi
April 5: T20I, Rawalpindi
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A