ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb met with Sultan Abdulrahman Al-Marshad, CEO Saudi Fund for Development (SFD), in Washington on Thursday and discussed investable projects, including a dam and a major national highway.
Aurangzeb is in Washington for IMF and World Bank spring meetings. As he launches negotiations for a new three-year multi-billion-dollar bailout deal from the IMF, Saudi Foreign Minister Prince Faisal bin Farhan Al Saud was in Islamabad earlier this week where he said Riyadh would be “moving ahead significantly” to invest in projects in the South Asian nation.
The Saudi official’s visit followed a meeting in Makkah between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in which the Kingdom had pledged to expedite $5 billion in investments.
“Briefed him [SFD CEO] about his recent visit to Saudi Arabia and that of Saudi delegation to Pakistan during this week,” the finance ministry said about the meeting between the Pakistani finance minister and the Saudi official in Washington.
“Expressed satisfaction with the progress of ongoing projects. Discussed the funding of Diamer Bhasha dam and N-25 from Karachi to Chaman. Informed that Pakistan would pitch bankable and investable projects to Saudi investors.”
Diamer-Bhasha Dam is a concrete-filled gravity dam, in the preliminary stages of construction, on the River Indus between Kohistan district in Khyber Pakhtunkhwa and Diamer district in Gilgit Baltistan. Upon completion, the dam dam would produce 4800 megawatts of electricity through hydro-power generation, store an extra 10.5 cubic kilometers of water for Pakistan that would be used for irrigation and drinking, extend the life of Tarbela Dam located downstream by 35 years, and control flood damage by the River Indus downstream during high floods.
The N-25 or National Highway 25 is an 813 km national highway in Pakistan which extends along from Karachi, Pakistan’s commercial hub, in Sindh province to the Chaman border via Quetta in the Balochistan province of Pakistan.
During the Saudi FM’s visit this week, investments in the Pakistani sectors of mining and minerals, agriculture, energy, information technology and infrastructure development were discussed. Speaking to journalists on Thursday, Foreign Minister Ishaq Dar said Pakistan had pitched an “epic menu” of investment projects worth $30 billion to Riyadh during Prince Faisal’s visit.
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and the top source of remittances to the cash-strapped South Asian country.
Pakistani finance minister, Saudi Fund for Development discuss funding for dam, highway
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Pakistani finance minister, Saudi Fund for Development discuss funding for dam, highway
- Aurangzeb is in Washington for IMF and World Bank spring meetings
- Saudi FM was recently in Pakistan to discuss investment projects
Suspected militants bomb school for girls in northwestern Pakistan
- No one harmed as militants blow up girls school in North Waziristan district, say police
- Pakistan witnessed attacks on girls’ schools until 2019 by militants opposed to female education
DERA ISMAIL KHAN, Pakistan: Militants detonated a bomb at a girls school in a former stronghold of the Pakistani Taliban in the country’s volatile northwest, badly damaging the structure, police said Thursday. No one was harmed in the overnight attack.
There was no immediate claim of responsibility for the attack late Wednesday that targeted the only girls school in Shawa, a town in the North Waziristan district in the Khyber Pakhtunkhwa province bordering Afghanistan, local police chief Amjad Wazir said.
UNICEF condemned the bombing as “despicable and cowardly act that could jeopardize the future of many young and talented girls.”
According to the police chief, the attackers first beat up the school guard before setting off the explosives at the private Aafia Islamic Girls Model School, which has 150 students.
Suspicion is likely to fall on Islamic militants and specifically the Pakistani Taliban, who have targeted girls schools in the province in the past, saying that women should not be educated.
In a statement, Abdullah Fadil, the UNICEF representative in Pakistan, said the “destruction of a girls’ school in a remote and underserved area is a heinous crime detrimental to national progress.” He cited Prime Minister Shehbaz Sharif statement on Wednesday declaring an education emergency and pledging to work toward enrolling 26 million out-of-school children.
Pakistan witnessed multiple attacks on girls schools until 2019, especially in the Swat Valley and elsewhere in the northwest where the Pakistani Taliban long controlled the former tribal regions. In 2012, the insurgents attacked Malala Yousafzai, a teenage student and advocate for the education of girls who went on to win the Nobel Peace Prize.
The Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP, were evicted from Swat and other regions in recent years. The TTP are a separate group but a close ally of the Afghan Taliban, who seized power in Afghanistan in 2021.
The Taliban takeover in neighboring Afghanistan has emboldened the Pakistani Taliban.
US CENTCOM commander, Pakistan Army chief discuss joint training, regional security
- US CENTCOM directs and enables military operations with allies and partners to increase regional security
- CENTCOM commander appreciated Pakistan Army’s contribution in war against “terrorism,” says army
ISLAMABAD: Pakistan’s Army Chief General Syed Asim Munir and General Michael Erik Kurilla, the commander of the US Central Command (CENTCOM) discussed regional security and joint training in a meeting on Thursday, the army’s media wing said.
US CENTCOM directs and enables military operations with its allies to increase regional security and promote US interests. Among its stated command priorities is to counter violent extremist organizations.
Pakistan has seen a surge in militant attacks in its Balochistan and Khyber Pakhtunkhwa (KP) provinces bordering Afghanistan since a fragile truce between the state and the Pakistani Taliban broke down in Nov. 2022.
Both Pakistan and US have collaborated over the years to take out militant organizations, especially in Pakistan’s restive tribal areas bordering Afghanistan.
Pakistan Army’s Inter-Services Public Relations (ISPR) said General Kurilla called on Munir at the army’s headquarters in Rawalpindi.
“During the meeting, matters of shared interests, particularly cooperation in regional security matters came under discussion,” the ISPR said.
“Both sides discussed avenues of joint training and reiterated the need for enhancing training interactions between CENTCOM and Pakistan Army.”
The ISPR said Kurilla acknowledged Pakistan Army’s success in its fight against “terrorism” and appreciated its continued efforts to bring peace and stability to the region.
Ties between Islamabad and Washington, once close allies, have just started to warm after some years of frosty relations, mostly due to concerns about Pakistan’s alleged support of the Taliban in Afghanistan. Pakistan denies this support.
Relations strained further under the government of former prime minister Imran Khan, who ruled from 2018-22 and antagonized Washington throughout his tenure, welcoming the Taliban takeover of Afghanistan in 2021 and later accusing Washington of being behind attempts to oust him. Washington has dismissed the accusation.
The government of PM Shehbaz Sharif that took over after Khan and whose term ended last year tried to mend ties but analysts widely believe the United States will not seek a significant broadening of ties with Islamabad in the near future but remain mostly focused on security cooperation, especially on counterterrorism and Afghanistan.
Pakistan’s foreign reserves with central bank surge past $9 billion after IMF inflows
- Pakistan last month received $1.1 billion from IMF as final tranche of its $3 billion loan program
- Talks between IMF and Pakistan for a fresh loan program is expected to be held this month
KARACHI: Pakistan’s foreign exchange reserves with its central bank surged to $9.12 billion on Thursday, data from the State Bank of Pakistan (SBP) after Islamabad received the final tranche of $1.1 billion from the International Monetary Fund (IMF) last month.
The SBP confirmed on April 30 that Pakistan had received the final tranche of $1.1 billion as part of a $3 billion IMF loan program it entered last summer.
The South Asian country is expected to hold discussions this month with an IMF mission for a “larger and longer” program that Islamabad hopes would help avert its macroeconomic crisis.
“Foreign reserves held by the State Bank of Pakistan total $ 9,120.3 million,” the SBP said in a statement. It added that total reserves held by the country stood at $ 14,458.9 million, out of which net foreign reserves worth $ 5,338.6 million were by commercial banks.
Pakistan has been struggling with a chronic economic crisis since April 2022 that has seen its foreign exchange reserves plummet to historic lows and its national currency depreciate significantly against the US dollar.
The South Asian country has turned to international financial institutions and multilateral partners to secure external financing in a bid to stave off a balance of payment crisis.
Desperate to shore its foreign reserves, Pakistan has recently welcomed visits by business delegations and diplomats from Saudi Arabia, Japan, Qatar and Azerbaijan to attract investment.
Last year Pakistan set up the Special Investment Facilitation Council, a body consisting of Pakistani civilian and military leaders and specially tasked to promote investment in Pakistan. The council is so far focusing on investments in the energy, agriculture, mining, information technology and aviation sectors and specifically targeting Gulf nations.
Pakistan fast bowler Amir to miss first T20I against Ireland after visa delay
- Mohammad Amir gets travel visa, expected to join squad from Friday, confirms PCB
- Pakistan will play three T20Is against Ireland and four against England this month
ISLAMABAD: Left-arm fast bowler Mohammad Amir has received his travel visa but won’t make it in time to play the first T20I match against Ireland on Friday, the Pakistan Cricket Board (PCB) has confirmed.
Amir did not travel to Ireland with Pakistan’s squad this week due to visa delay issues. Pakistan will play a three-match T20I series against the Irish side from May 10-14 in Dublin before departing for the UK where they will play against England in a four-match T20I series.
“Fast bowler Mohammad Amir will miss the first T20I due to delays in the issuance of his visa,” the PCB said in a statement on Thursday. “He is expected to join the side on Friday.”
Amir, 32, came out of international retirement last month for the home series against New Zealand, drawn 2-2. The pacer is eyeing a spot in the 15-man squad for next month’s T20 World Cup in the Caribbean and the United States.
The three-match series in Dublin is also World Cup preparation as both teams are in the same group alongside India, US and Canada.
Amir will bolster Pakistan’s pace battery which comprises the likes of Naseem Shah, Shaheen Shah Afridi, and Haris Rauf.
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.
Pakistan to introduce new SOPs for security of Chinese nationals— interior minister
- Pakistan has recently witnessed surge in militant attacks on Chinese nationals
- A suicide attack in northwestern Pakistan in March killed five Chinese engineers
ISLAMABAD: Pakistan’s government will craft new standard operating procedures (SOPs) for the security of Chinese nationals working and living in the country, Interior Minister Mohsin Naqvi said on Thursday.
Pakistan has seen a rise in attacks on Chinese nationals in the country in recent months. A suicide bomber in March rammed his vehicle into a convoy of Chinese engineers working on a hydropower project in northwestern Pakistan. Five Chinese engineers were killed in the attack.
Pakistan has said it has since then taken steps to enhance the security of Chinese nationals in the country.
“Interior Minister Mohsin Naqvi says new Standard Operating Procedures (SOPs) related to the security of Chinese nationals will be crafted and it will be implemented in letter and spirit,” the state-run Radio Pakistan reported.
Naqvi was speaking to Chinese Ambassador to Pakistan Jiang Zaidong in Islamabad, the state media said, adding that he vowed to bring the perpetrators of the March attack to justice.
“Mohsin Naqvi said no conspiracy can sabotage the decades-old Pak-China friendship,” Radio Pakistan said.
Zaidong expressed satisfaction with the measures taken by Pakistani authorities for the security of Chinese nationals.
The Dasu attack was the third major one in a little over a week on China’s interests in the South Asian nation, where Beijing has invested over $65 billion in energy, infrastructure and other projects as part of its wider Belt and Road initiative.
Chinese interests in Pakistan’s southwestern Balochistan province have also been under attack primarily by militants who seek to push Beijing out of the mineral-rich territory.
