Sharif praises political, military leadership as Pakistan marks 25th anniversary of nuclear tests

Pakistan Prime Minister Shehbaz Sharif speaks on the floor of the National Assembly in Islamabad on May 22, 2023. (Photo courtesy: Twitter/NAofPakistan)
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Updated 28 May 2023
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Sharif praises political, military leadership as Pakistan marks 25th anniversary of nuclear tests

  • On May 28, 1998, Pakistan successfully conducted five nuclear tests in response to India’s nuclear test
  • PM Sharif says day reflects how consensus between all elements of national power achieved ‘uphill task’

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday paid rich tributes to the political and military leadership that enabled Pakistan to successfully test its nuclear weapons on May 28, 1998.

Pakistan marks May 28 each year as Youm-e-Takbeer (Day of Greatness) when then-Prime Minister Nawaz Sharif’s government successfully tested Pakistan’s nuclear weapons in response to India. After the tests of 1998, Pakistan became the only Islamic nation in the world to possess nuclear weapons and the seventh worldwide.

Islamabad has frequently said its nuclear weapons are for self-defense purposes only and has assured the world that its nuclear weapons are safely guarded against militants. The eight official nuclear powers are the United States, Russia, Britain, China, France, India, North Korea, and Pakistan, while Israel is known to have nuclear weapons unofficially.

To mark the silver jubilee of the event, Prime Minister Shehbaz Sharif wrote on Twitter that the day reflected how consensus between all elements of national power achieved “what once looked like an uphill task.”

“All along, our armed forces remained a guardian & protector of the program in the face of malign intentions of our enemies,” he wrote.

“On the Silver Jubilee of Youm-e-Takbeer, I pay rich tributes to the political & military leadership, scientists, engineers and all those who remained associated with our nuclear program,” he added.

Sharif said that the hard work, commitment, and determination of the military and political leadership of the time made it possible for Pakistanis to guard their independence “from any physical threat.”


Historic cuts in Pakistan car prices a ‘marketing stunt’ amid slow demand — experts

Updated 6 sec ago
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Historic cuts in Pakistan car prices a ‘marketing stunt’ amid slow demand — experts

  • Lucky Motor Company, which assembles KIA cars in Pakistan, and Pak Suzuki Motors recently reduced Stonic, Swift prices by up to Rs1.5 million
  • Experts say the automakers wanted to “test” the market through the stunt and the benefit would not end customers as it was opened for few days

KARACHI: The recent historic cuts in prices of multiple car models were a “marketing stunt” by automakers in Pakistan, experts and dealers said on Friday, attributing it to slow demand in the South Asian country.
Lucky Motor Company, which assembles KIA cars in Pakistan, reduced the price of KIA Stonic by as much as Rs1,500,000, followed by a cut in Swift price by up to Rs710,000.
The rate cuts by Kia and Pak Suzuki Motors came on the heels of a reduction in prices of Toyota Yaris by Rs133,000 and Honda City by Rs140,000 respectively in March.
While KIA and Pak Suzuki Motors have said they received an “overwhelming” to the price drops, experts believe it to be a marketing stunt to help struggling models fare better in the Pakistani market.
“They (LMC) played a game because they had about 300-350 (KIA Stonic) cars lying dead which were not sold,” Hajji Muhammad Shahzad, chairman of All Pakistan Motor Dealers Association (APMDA), told Arab News.
“They threw [them] in the market and stopped the booking.”
Shahzad said the price cut by the LMC generated interest among investors who booked the car instead of “genuine buyers,” noting that the car would come with around Rs500,000 own money as well.
Mashood Ali Khan, an auto industry expert, believed that price plays a key role in the auto sector, because of the current economic situation and prevailing high inflation. He said the LMC wanted to “test” the market.
“The people who have booked, maybe I am wrong, but I think they are mostly the investors,” Khan told Arab News. “It could not reach the end consumers as it was opened for two days.”
Reached for comment, LMC Chief Executive Officer Muhammad Faisal said they corrected the KIA Stonic price to help it compete with sedan cars available in Pakistan and “took the hit” themselves, though the automaker didn’t anticipate the overwhelming response to the price cut.
“We tried to bring it to the price point at which competing sedans are available,” Faisal told Arab News. “When we brought it to this price point, the response from the market was unbelievable and better than our expectations.”
Though a Pak Suzuki Motor official did not respond to Arab News query about the cut in Swift price, the company said in a circular it had received an “overwhelming” response and was now introducing “stylish combinations” of a two-tone exterior.
Shahzad, however, said Swift did not get a “good response” despite the price cut. 
A decrease in car prices was already expected as the Pakistani government notified in March it would charge 25 percent sales tax on locally assembled cars, if their invoice price exceeded Rs4 million.
Car sales declined in Pakistan by 38 percent during nine months of the current fiscal year, which began on July 1, amid a declining trend in auto financing, historic high interest rate, soaring prices and shrinking purchasing power of consumers, according to a research report by the Karachi-based Darson Securities.
Asked about the delivery of vehicles to customers, LMC CEO Faisal said the company had not delivered the newly booked Stonic cars and was still filtering buyers.
“We have just made a commitment that we will deliver it now,” he told Arab News. “We have ensured that we will book one car per CNIC (computerized national identity card), we are filtering the investors, we are giving preference to genuine customers, so that we can deliver it soon.”
Faisal said the automaker was evaluating its stock position after the current response and it would resume bookings, however, the company would be giving delivery commitments for October onwards.
Car prices have increased in Pakistan by around 40 percent in the last two years and the costs of vehicles remain high despite the recent cuts, according to car dealers.
Khan, the auto sector expert, called for localization of auto parts and a 10-year policy to promote auto industrialization to make affordable cars in Pakistan.


Pakistan seeks Beijing’s support for completion of 1,800MW hydropower projects

Updated 10 May 2024
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Pakistan seeks Beijing’s support for completion of 1,800MW hydropower projects

  • The Kohala and Azad Pattan hydropower projects have reportedly been delayed for past several months
  • Beijing is investing more than $65 billion in energy and infrastructure projects in Pakistan as part of CPEC

ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal has sought Chinese support for early completion of two hydropower projects, Pakistani state media reported on Thursday, amid the minister’s visit to China.
The 1,124 megawatts (MW) Kohala and 700MW Azad Pattan hydropower projects have been delayed for the past several months, according to media reports.
In his meeting with National Energy Administration of China’s Chairman Zhang Jianghua, Iqbal said his government intended to diversify energy mix toward clean and renewable energy.
“In that context, Minister for Planning sought Chinese continued cooperation for the early implementation of the Azad Pattan and Kohala Hydro Power Projects,” the state-run Radio Pakistan broadcaster reported.
Beijing is investing over $65 billion in energy and infrastructure projects in Pakistan as part of the China-Pakistan Economic Corridor (CPEC), a major segment of Beijing’s Belt and Road infrastructure initiative, which will connect China to the Arabian Sea and help Islamabad expand and modernize its economy through a network of roads, railways, pipelines and ports in Pakistan.
During the meeting, the two sides also discussed new initiatives to improve energy management system, aimed at reducing theft and line losses, according to the report.
“We intend to reform energy sector to be efficient and affordable in order to provide electricity to consumers and businesses at cheaper rates by cutting line losses and power theft,” Iqbal was quoted as saying.
The meeting was part of Iqbal’s engagements in Beijing to prepare for the next round of Joint Coordination Committee meeting as well as for the preparation of an upcoming visit of Prime Minister Shehbaz Sharif to China.
Earlier, the minister met officials of top Chinese companies, including Power China, TBEA Co. Ltd., and Electric Power Planning and Engineering Institute, that specialize in power transmission and distribution.


Pakistan envoy urges Hajj pilgrims to demonstrate discipline during stay in Saudi Arabia

Updated 46 min 30 sec ago
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Pakistan envoy urges Hajj pilgrims to demonstrate discipline during stay in Saudi Arabia

  • Pakistan on Thursday launched its pre-Hajj flight operation which will continue till June 9
  • Ambassador Ahmed Farooq thanks Saudi Arabia for ‘best’ arrangements for Hajj pilgrims

ISLAMABAD: Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, on Friday urged Pakistani Hajj pilgrims to demonstrate discipline during their stay in Saudi Arabia and thanked the Kingdom for ensuring “best” arrangements for the devotees, the Pakistani religious affairs ministry said.
The statement came amid Pakistan’s ongoing pre-Hajj flight operation to ferry pilgrims to the Kingdom for the annual pilgrimage. Several Hajj flights left Pakistan for the Kingdom on Thursday.
Ambassador Farooq and Pakistan’s Hajj Director-General Abdul Wahab Soomro warmly welcomed the Pakistani pilgrims upon arrival in the holy city of Madinah.
“Pilgrims should demonstrate best discipline to increase the prestige of the country,” the Pakistani religious affairs ministry quoted the ambassador as saying.
“We are grateful to the Saudi government for making the best arrangements for Hajj pilgrims.”
Soomro said the pre-Hajj flight operation was ongoing successfully and feedback about different facilities would be sought from pilgrims through the Pak Hajj app.
Hajj is one of the five pillars of Islam, and requires every adult Muslim to undertake the journey to the holy Islamic sites in Makkah at least once in their lifetime, if they are financially and physically able.
Pakistan has a Hajj quota of 179,210 pilgrims this year, according to the Pakistani religious affairs ministry. Of them, 63,805 pilgrims will be performing the pilgrimage under the government scheme, while the rest would be accommodated by private tour operators.
This year’s pilgrimage is expected to run from June 14 till June 19.


Pakistan and Ireland go toe-to-toe in inaugural T20I series today

Updated 42 min 25 sec ago
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Pakistan and Ireland go toe-to-toe in inaugural T20I series today

  • Both Pakistan and Ireland are in the same group of the T20 World Cup
  • Mohammad Amir expected to be available for second and third T20Is

ISLAMABAD: The Pakistan cricket team will kick off its Europe tour today, Friday, with the first of three Twenty20 Internationals (T20Is) against Ireland at the Castle Avenue, the Pakistan Cricket Board (PCB) said.
This marks the first time Ireland will host Pakistan for a T20I series. The two sides have previously met only once in the ICC Men’s T20 World Cup 2009 where Pakistan won by 39 runs with Kamran Akmal receiving the player of the match award for his 51-ball 57 and two stumpings.
Interestingly, both Pakistan and Ireland are in the same group for the ICC Men’s T20 World Cup 2024 and will face each other in Florida on June 16. Apart from the two sides, India, USA, and Canada are also in the same group, with the top two teams advancing to the second stage.
“Our preparations for the ICC Men’s T20 World Cup 2024 began with the home series against New Zealand and now it’s all about putting the final touches on those preparations. We have clarity on our game plans, strategies and combinations. It’s about bringing everything together before we arrive in the United States,” the PCB quoted Pakistan head coach Azhar Mahmood as saying.
“We’ve only played Ireland once, so they will be a relatively new opponent for us. However, any team in T20 cricket can be dangerous as the match can swing in one over. The three T20Is will provide us with good information about their players and how they approach T20 cricket.”
The remaining two matches will also take place at the same venue in Ireland on Sunday and Tuesday, before Pakistan head to Headingley, Leeds on Wednesday for a series of four T20Is against England.
Following the England series, with matches scheduled at Headingley (22 May), Birmingham (25 May), Cardiff (28 May), and The Oval, London (30 May), both England and Pakistan will head to the ICC Men’s T20 World Cup 2024, according to the PCB.
England will face Scotland in Barbados on June 4 in their opening match, while Pakistan will launch their campaign against the United States (US) in Dallas on June 6.
Meanwhile, fast bowler Mohammad Amir will miss the first T20I due to delays in the issuance of his visa. He is expected to join the side on Friday.
Squads
Ireland: Paul Stirling (captain), Mark Adair, Ross Adair, Andrew Balbirnie, Curtis Campher, Gareth Delany, George Dockrell, Graham Hume, Barry McCarthy, Neil Rock, Harry Tector, Lorcan Tucker, Ben White, Craig Young
Pakistan: Babar Azam (captain), Abrar Ahmed, Azam Khan, Fakhar Zaman, Haris Rauf, Hasan Ali, Iftikhar Ahmed, Imad Wasim, Mohammad Abbas Afridi, Mohammad Amir (unavailable for first T20I), Mohammad Rizwan, Muhammad Irfan Khan, Naseem Shah, Saim Ayub, Salman Ali Agha, Shadab Khan, Shaheen Shah Afridi and Usman Khan


Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom

Updated 10 May 2024
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Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom

  • ABHI, which also serves customers in UAE, was selected as one of Gulf country’s Future 100 companies last year 
  • Saudi tech company says partnership to empower Kingdom’s citizens, embolden private sector and foster economic growth

KARACHI: Alraedah Digital Solutions, a leading Saudi technology company, announced on Thursday it was entering into a strategic partnership with Pakistani fintech ABHI to launch “innovative” financial services in the Kingdom. 
Alraedah Digital Solutions, the digital arm of Alraedah Digital Group, focuses on innovation and digital transformation to empower businesses and individuals through cutting-edge solutions in finance and technology. 
ABHI is a Pakistani fintech company that provides innovative finance solutions to businesses and their employees. Last year, it was selected as one of the Future 100 companies of the United Arab Emirates. 
Founded in 2021, ABHI has been serving customers in Pakistan, UAE, and Bangladesh through its credit-bridging products. These include Earned Wage Access, Invoice Factoring, SME Working Capital & Revenue Based Financing, and Payroll Solutions. 
“Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to launch a set of innovative financial services in KSA,” the Saudi company said in a press release. 
The statement said as per the terms of the agreement, ABHI will gain access to Alraedah’s knowledge and understanding of the local Saudi market. This would enable it to collaboratively launch innovative financing products in Saudi Arabia.
“Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localized for the Saudi market,” the press release said. 
The Pakistani fintech says it has a client base of over 1,000 esteemed companies and actively promotes financial empowerment and provides stability to over 750,000 employees across the region.
“With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy,” Omair Ansari, co-founder and CEO of ABHI, was quoted as saying. 
Paul Melotto, CEO of Alraedah Digital Solutions, said both companies aim to redefine access to financial services and empower individuals and businesses across the region.
“Together, we aim to redefine access to financial services and empower individuals and businesses across the region,” he said.