Pakistan’s economy fared best in past three decades under Nawaz Sharif — Bloomberg Economics report

Pakistan's former Prime Minister and leader of Pakistan Muslim League Nawaz (PMLN) party Nawaz Sharif (R) with his daughter Maryam Nawaz (L) waves to supporters during an election campaign rally at Mansehra in Khyber Pakhtunkhwa province on January 22, 2024. (AFP)
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Updated 23 January 2024
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Pakistan’s economy fared best in past three decades under Nawaz Sharif — Bloomberg Economics report

  • Bloomberg calculates misery index, an informal measure of state of economy generated by adding rates of inflation and unemployment
  • Results showed Sharif’s Pakistan Muslim League at 14.5%, Khan’s Pakistan Tehreek-e-Insaf at 16.1%, Pakistan Peoples Party at 17.2%

ISLAMABAD: Pakistan’s government under three-time former Prime Minister Nawaz Sharif’s party had the best performance in managing the South Asian nation’s economy over the past three decades compared with rivals, an analysis by Bloomberg Economics published this week said.

Using a misery index for Pakistan — an informal measure of the state of an economy generated by adding together its rates of inflation and unemployment — Bloomberg Economics found that Sharif’s Pakistan Muslim League (PML-N) scored better than Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Peoples Party (PPP) of former foreign minister Bilawal Bhutto Zardari.

The past three decades saw the PML-N rule Pakistan four times under Sharif and his younger brother Shehbaz Sharif. The PPP under the Bhutto dynasty has held power three times, while Khan was in office for a four-year term ending in April 2022 when he was ousted from power in a parliamentary no-trust vote.

“Bloomberg Economics used an average of the index values over the respective years when each of the major political parties ruled the country since 1990. A higher value indicates more economic hardship for citizens,” the publication said, explaining its conclusions.

Bloomberg Economics Misery Index Results for Pakistan showed the Pakistan Muslim League scored 14.5 percent, Pakistan Tehreek-e-Insaf 16.1 percent and the Pakistan Peoples Party 17.2 percent.

Despite a higher misery index, Khan is still the most popular politician, with an approval rating of 57 percent, according to a recent Gallup opinion poll. Sharif’s ratings have jumped to 52 percent from 36 percent in the past six months.

“The public may be giving Sharif the benefit of the doubt,” Ankur Shukla of Bloomberg Economics wrote in the report, adding that “road ahead won’t be easy for any party that wins the election,” given inflation remains near record highs and unemployment is also elevated.

Inflation is close to 30 percent in Pakistan, the currency was Asia’s worst performer last year and foreign exchange reserves have slumped.

 The country is currently relying on a financial bailout from the International Monetary Fund, and under the fund’s conditions, the new government will need to implement policies that may be unpopular with voters, such as withdrawing subsidies and raising taxes. 

The IMF expects Pakistan’s economy to grow 2 percent in the current fiscal year after contracting in the previous year.


Pakistan Deputy PM to attend SCO Foreign Ministers’ meeting in Kazakhstan tomorrow

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Pakistan Deputy PM to attend SCO Foreign Ministers’ meeting in Kazakhstan tomorrow

  • The SCO is a major trans-regional organization and its member states collectively represent nearly half of world population
  • Deputy PM Ishaq Dar will also hold bilateral meetings with his counterparts on sidelines of the SCO Foreign Ministers’ meeting

ISLAMABAD: Ishaq Dar, Pakistan’s deputy prime minister and foreign minister, will attend a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organization (SCO) on Monday, Pakistani state media reported.

Founded in 2001, the SCO is a major trans-regional organization spanning South and Central Asia, with China, Russia, Pakistan, India, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan as its permanent members. The SCO member states collectively represent nearly half of the world’s population and a quarter of global economic output. 

The organization’s agenda of promoting peace and stability, and seeking enhanced linkages in infrastructure, economic, trade and cultural spheres, is aligned with Pakistan’s own vision of enhancing economic connectivity as well as peace and stability in the region. 

The two-day meeting of the SCO Council of Foreign Ministers will begin in Astana on Monday, according to the state-run Radio Pakistan broadcaster.

“Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar will represent Pakistan at two-day meeting of the Council of Foreign Ministers of Shanghai Cooperation Organization, beginning at Astana in Kazakhstan tomorrow,” the report read.

“The Foreign Minister will also hold bilateral meetings with his counterparts on the sidelines of the Council of Foreign Ministers meeting.”

Since becoming a full member of the SCO in 2017, Pakistan has been actively contributing toward advancing the organization’s core objectives through its participation in various SCO mechanisms.

During his visit to China this week, Dar also met SCO Secretary-General Ambassador Zhang Ming and reiterated Pakistan’s commitment to the organization’s charter and its ideals, the Pakistani foreign ministry said in a statement.

“He expressed Pakistan’s strong commitment to advancing SCO’s security and development cooperation agenda,” the statement said.


Pakistan’s Punjab warns of ‘intense’ heatwave in southern districts next week

Updated 19 May 2024
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Pakistan’s Punjab warns of ‘intense’ heatwave in southern districts next week

  • Authorities asked to set up heatwave counters in all hospitals, ensure supply of essential medicines
  • Citizens are requested to take precautionary measures, avoid exertion and exercise in strong sunlight

ISLAMABAD: Authorities in Pakistan’s Punjab province have warned of an “intense” heat wave in southern districts of the province next week, urging people to take precautions and avoid going outdoors unnecessarily.

There is a severe risk of heatwave in Bahawalpur, Rahim Yar Khan, Dera Ghazi Khan and Multan districts from May 21 to May 27, according to the provincial disaster management authority (PDMA).

Authorities have been given instructions to set up heatwave counters in all hospitals and ensure the supply of all essential medicines.

“All departments can fight heat wave by working together and cooperating [with each other],” PDMA Director-General Irfan Ali Kathia said in a statement. “The next ten days are predicted to be engulfed by severe heat wave.”

Climate change-induced extreme heat impacts human health in multiple ways. Direct effects of exposure to extreme heat and heatwaves can include heat-related illnesses such as heat cramps, heat exhaustion, heatstroke, and hyperthermia. It can make certain chronic conditions worse, including cardiovascular, respiratory, and cerebrovascular disease and diabetes-related conditions, and can also result in acute incidents, such as hospitalizations due to strokes or renal disease.

Citizens are being informed about the dangers of heatwave through print, electronic and social media, according to the PDMA DG.

“The public is requested to take precautionary measures. Avoid exertion and exercise in strong sunlight,” he said. “Do not step out of the house unnecessarily. Wear light colored cotton clothes.”

People may dial the PDMA helpline 1129 or Rescue 1122 in case of an emergency situation, the official added.

Increased exposure to heat, and more heatwaves, have been identified as one of the key impacts of climate change in Pakistan, with people experiencing extreme heat and seeing some of the highest temperatures in the world in recent years. The South Asian country of more than 241 million, one of the ten most vulnerable nations to climate change impacts, has also recently witnessed untimely downpours, flash floods and droughts.

According to the Global Climate Risk Index, nearly 10,000 Pakistanis have died while the country has suffered economic losses worth $3.8 billion due to climate change impacts between 1999 and 2018. A deadly heatwave that hit Pakistan’s largest city of Karachi, the capital of Sindh, claimed 120 lives in 2015.

In 2022, torrential monsoon rains triggered the most devastating floods in Pakistan’s history, killing around 1,700 people and affecting over 33 million, a staggering number close to the population of Canada. Millions of homes, tens of thousands of schools and thousands of kilometers of roads and railways are yet to be rebuilt.
 


Helicopter carrying Iran’s president suffers a ‘hard landing,’ state TV says without further details

Updated 19 May 2024
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Helicopter carrying Iran’s president suffers a ‘hard landing,’ state TV says without further details

  • Ebrahim Raisi was traveling in Iran’s East Azerbaijan province
  • State TV described the area of the incident as being near Jolfa

DUBAI: A helicopter carrying Iranian President Ebrahim Raisi suffered a “hard landing” on Sunday, Iranian state television reported, without immediately elaborating.
Raisi was traveling in Iran’s East Azerbaijan province. State TV described the area of the incident happening as being near Jolfa, a city on the border with with the nation of Azerbaijan, some 600 kilometers (375 miles) northwest of the Iranian capital, Tehran.
Raisi had been in Azerbaijan early Sunday to inaugurate a dam with Azerbaijan’s President Ilham Aliyev. The dam is the third one that the two nations built on the Aras River.
Iran flies a variety of helicopters in the country, but international sanctions make it difficult to obtain parts for them. Its military air fleet also largely dates back to before the 1979 Islamic Revolution.
Raisi, 63, is a hard-liner who formerly led the country’s judiciary. He is viewed as a protégé of Iran’s Supreme Leader Ayatollah Ali Khamenei and some analysts have suggested he could replace the 85-year-old leader after his death or resignation from the role.


Around 540 Pakistani students to return from Bishkek today via commercial flights— deputy PM

Updated 19 May 2024
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Around 540 Pakistani students to return from Bishkek today via commercial flights— deputy PM

  • First batch of 130 Pakistani students from Bishkek arrived in Lahore on Saturday night 
  • Fifty students have also registered to return home via special air force flight, says deputy PM

ISLAMABAD: Deputy Prime Minister (DPM) Ishaq Dar announced the government has arranged three commercial flights to repatriate around 540 Pakistani students from Bishkek today, Sunday, following violent clashes in the city this week that led to the evacuations.

The development took place after frenzied mobs attacked foreign nationals in the Kyrgyz capital of Bishkek on Friday. The attacks began after videos of a brawl between Kyrgyz and Egyptian students went viral on social media, prompting furious mobs to target hostels of medical universities and private lodgings of international students, including Pakistanis, in the city.

The first batch of around 130 Pakistani students arrived in Lahore late Saturday night. According to official statistics, around 10,000 Pakistani students are enrolled in various educational institutions in Kyrgyzstan, with nearly 6,000 residing and studying in Bishkek.

“Three commercial special flights have been arranged for today (Sunday) on which 540 students will come back while 130 returned yesterday,” Dar told reporters during a media briefing in Lahore.

“A special flight of Pakistan Air Force will also bring around 130 students. So far, 50 students have registered themselves to come on this flight,” he added.

Dar said he spoke with the foreign minister of Kyrgyzstan today, Sunday, who assured him that the situation in the country was under control and that no new incidents had occurred since Friday afternoon.

“Kyrgyz foreign minister has confirmed that 16 foreign students including four to five Pakistanis got injured during this incident and are under treatment,” Dar said.

He added that Kyrgyzstan’s government has also assured that security at students’ hostels has been enhanced and that they were constantly monitoring the situation.

Earlier on Saturday evening, the PM’s Office said Prime Minister Shehbaz Sharif had directed Dar and another cabinet member, Amir Muqam, to travel to Bishkek on Sunday and address the situation there.

Dar said they were not traveling to the country at the Kyrgyzstan government’s request, adding that Pakistan has instead sent two officers from the foreign office to facilitate the country’s embassy.

“We were supposed to leave today for the Kyrgyz republic but their foreign minister requested [us] not to come because it would give the wrong impression about the incident and would provide fuel to the opposition,” Dar said.

He said Kyrgyzstan’s foreign minister has categorically denied any Pakistani students were killed in the clashes.

“Their (Kyrgyzstan) foreign minister also said they have arrested a few culprits and assured that no one involved will be spared,” the deputy prime minister said.

Dar said Pakistan’s foreign office had summoned the Kyrgyz Charge d’Affaires to the Ministry of Foreign Affairs on Saturday for a demarche over the current situation.

“It [violence] happened due to a clash between students and foreign students were targeted from Pakistan, India, Bangladesh and Arab countries,” he said.

Dar said Pakistan’s embassy had confirmed the situation is not tense anymore and that Pakistanis injured are being provided the best possible medical facilities.

Separately, in a telephone call with Pakistan’s Ambassador to Kyrgyzstan Hasan Ali Zaigham, PM Sharif instructed the embassy to make the necessary arrangements for the special plane to bring back Pakistani students.

The prime minister said injured Pakistani students should be brought back to Pakistan on a priority basis.

“The Prime Minister also instructed to ensure repatriation of family members residing in Kyrgyzstan with the Pakistani students,” PMO said.


Pakistan says will push for peace in Middle East if elected non-permanent UNSC member

Updated 19 May 2024
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Pakistan says will push for peace in Middle East if elected non-permanent UNSC member

  • Elections for five of 10 non-permanent seats of UNSC for 2025-26 to take place on June 6
  • Pakistan has been elected as non-permanent UNSC member seven times, most recently in 2013

ISLAMABAD: Pakistan will work for peace in the Middle East and Africa, and promote the right of self-determination of people living under foreign occupation if it gets elected as a non-permanent member of the Security Council, Pakistan’s ambassador to the UN said on Sunday. 
Elections for five of the 10 non-permanent seats on the UN Security Council for 2025-26 are set to take place on June 6. Pakistan says its candidacy has the endorsement of the 55-member Asian Group.
The South Asian country has been elected to the Security Council seven times, most recently in 2013. Other times Pakistan got elected was in 1952-1953, 1968-1969, 1976-1977, 1983-1984, 1993-1994 and 2003-2004.
Speaking to members of the US-based Pakistan Students Association Coalition (PSA Coalition) via video link, Pakistan’s Ambassador to the UN Munir Akram said election to the Security Council would require Islamabad to play a leading role in addressing Kashmir, Afghanistan and counterterrorism issues. 
“Pakistan will articulate developing countries’ aspirations, work for peace and in the Middle East and Africa as well as promote the right of self-determination for peoples under foreign occupation if elected as a non-permanent member of the UN Security Council,” Akram said, according to the state-run Associated Press of Pakistan (APP). 
Akram spoke about the current state of the world. including key global challenges amid regional conflicts. 
“He said that as the intense competition between major powers became a new reality of the world order, the world was undergoing a fast transition from its unipolar status to a bipolar plus order,” the APP said. 
The Pakistani ambassador’s comments came as Israel continues its relentless military assault on Gaza. Israel’s attacks against Hamas have killed at least 35,386 people, mostly civilians, according to the Hamas-run Gaza health ministry. 
The Jewish state’s siege has brought dire food shortages and the threat of famine to the densely populated territory.
Pakistan, which does not have diplomatic ties with Israel, has consistently called for an immediate ceasefire in the Middle East and urged world powers to work toward a two-state solution in the restive region, according to the aspirations of the people of Palestine.