Abbas urges foreign investors to take benefit from business, investment opportunities in Pakistan

Syed Ibne Abbas. (APP)
Updated 16 May 2018
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Abbas urges foreign investors to take benefit from business, investment opportunities in Pakistan

  • CPEC is a national project and would benefit all sections of the society in the country
  • Former Senator Javed Jabbar said that CPEC is part of Belt Road Initiative (BRI)

Pakistan High Commissioner to United Kingdom (UK) Syed Ibne Abbas on Tuesday evening terming China Pakistan Economic Corridor (CPEC) a game changer for the entire region called upon the foreign investors including UK to take optimum advantage of the business and investment opportunities being offered in Pakistan, especially in the wake of CPEC.
He stated this while addressing the meeting of All Parties Parliamentary Group (APPG) on Belt Road Initiative (BRI) and CPEC here at Macmillan Room, Portcullis House of Common Westminister last evening.

The meeting was addressed among others by Kevin Hollinrake MP, High Commissioner of Pakistan to UK Syed Ibne Abbas, EX Senator and former Information Minister Javed Jabbar, Hon. Alderman Mushataq Lasharie CBE, Chairwomen APPG on TWS, Liz Twist MP,Aftab Siddiqui, Cindy Berman , and former UK High Commissioner to Pakistan Sir Mark Lyall Grant.

The speakers on the occasion said that CPEC is a game changer and is a pioneering initiative of unprecedented scope and scale and has the capacity and potential to transform Pakistan into a developed nation, a regional economic hub and a significant player in the global economy.

CPEC, they said also has major implications for other regional countries, including Saudi Arabia, the United Arab Emirates, (UAE) , Oman, , the Central Asian Republics (CARs), Russia and even for those neighboring countries that at a time a negative or skeptical attitude toward it.
They said that CPEC would usher in a new era of progress and prosperity and it would not only benefit entire Pakistan but also contribute to the regional peace, stability and prosperity. CPEC is a game changer which can bring about gigantic investment and a bunch of business opportunities in Pakistan.
Speaking on the occasion Syed Ibne Abbas said that Pakistan and China enjoy excellent friendly relations and bonds and both have transformed these ties into strong economic relations.
He said CPEC would not only benefit Pakistan but help usher in a new era of economic prosperity in the entire Asian region and its people.

He called upon the British investors to take benefit from the investment opportunities in Pakistan being offered especially in the Special Economic Zones (SEZs)under the CPEC projects.

He said that Pakistan is a big country with a population of 207 million people majority of them are young and hardworking adding said that Pakistan and China have no hidden agenda but the developing the region through CPEC.

He thanked APPG for organizing this meeting on BRI and CPEC.

Former Senator Javed Jabbar said that CPEC is part of Belt Road Initiative (BRI) adding that Pakistan and China have a remarkable relationship.

He said that Pakistan was the first Muslim country to recognize China. He also highlighted the historical background of Pakistan China relationship.

He expressed the hope that completion of CPEC would help bring regional stability, peace and global prosperity.

The other speakers hoped that CPEC is already generating significant employment opportunities for local workers , who predominated in all projects.

Moreover, they said that skills training and technology transfer are provided by the Chinese side specially in Gawadar Balochistan besides providing scholarships to the Pakistani students in China.

They said that CPEC is a national project and would benefit all sections of the society in the country and particular benefits would accrue to hitherto under-developed and marginalized areas including Balochistan, KPK and Gilgit Baltistan.


Senate convenes parliament session to discuss UAE visa restrictions, welfare of overseas Pakistanis

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Senate convenes parliament session to discuss UAE visa restrictions, welfare of overseas Pakistanis

  • Session held after months of widespread media reports of a decline in UAE visas for Pakistanis
  • Last month, Pakistan foreign office said it did not subscribe to “impression” of ban on UAE visas

ISLAMABAD: The Senate Standing Committee on Overseas Pakistanis and Human Resource Development on Monday convened a session at the Parliament House to deliberate on critical issues, “including the UAE’s unofficial visa restrictions and the welfare of overseas Pakistanis,” state-run APP news agency reported. 

The session was held after months of widespread media reporting on a decline in UAE visas for Pakistanis and a decrease in overall overseas employment for nationals of Pakistan, allegedly due to their lack of respect for local laws and customs and for participating in political activities and sloganeering while abroad.

Last week, Prime Minister Shehbaz Sharif thanked the UAE for taking steps to streamline visas for Pakistanis.

“Senator Zeeshan Khanzada [chair of the session] emphasized the urgency of addressing lingering visa concerns, noting public frustration over unresolved issues,” APP reported after the meeting. 

“Khanzada pointed out discrepancies in visa processing despite applicants fulfilling all requirements and stressed the importance of keeping the public informed through compliance updates and timelines,” the state agency added.

Dr. Arshad Mahmood, secretary of the ministry of overseas Pakistanis, clarified that the restrictions “were not absolute, particularly in Dubai, where skilled labor remains unaffected.”

“He acknowledged a recent decline in the demand for unskilled labor and highlighted the need to prioritize skilled workforce migration. He added that approximately 700,000 workers have been sent abroad this year,” APP said. 

Committee members also discussed establishing dedicated immigration counters at international airports for overseas Pakistanis and facilitation for individuals whose passports had been confiscated, preventing their return to Pakistan, particularly those released from jail after falling short on visa requirements.

Last week, Hamad Obaid Ibrahim Salem Al-Zaabi, the ambassador of the UAE to Pakistan, called on Deputy Prime Minister Ishaq Dar and briefed him on steps being taken to streamline visas for Pakistanis. Previously, the foreign office has repeatedly said Islamabad did not subscribe to the “impression” that there was a ban on UAE visas for Pakistani nationals.

“If there are any issues that arise with respect to issuance of visas and stay of Pakistani nationals in the UAE, that are important agenda items between Pakistan and the UAE and we continue to discuss them,” the foreign office spokeswoman told reporters last month.


Days-long protest in Pakistan’s Gwadar continue over curbs on Iran border trade

Updated 7 min 21 sec ago
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Days-long protest in Pakistan’s Gwadar continue over curbs on Iran border trade

  • Locals in coastal town have traditionally used boats to travel into Iran to bring back oil and food items
  • In August, government introduced a token system with only registered boats allowed to cross over

QUETTA: A protest sit-in in the southwestern Pakistani port city of Gwadar entered its 10th day on Monday, with participants calling for free trade with Iran via land and sea borders as well as uninterrupted electricity supply and access to clean drinking water.

Gwadar is a coastal town in Pakistan’s impoverished Balochistan province where China is developing a deep-sea port. Despite the largescale development work, residents of the town have for years complained of a lack of employment opportunities and basic facilities like clean drinking water and electricity.

Pakistan shares an 904-kilometer-long border with Iran via land and sea, which is used for informal trade between the two countries. Formal trade between Pakistan and Iran has been nominal due to US sanctions on Tehran, but the area is dominated by informal trade of Iranian oil, food items and liquefied petroleum gas (LPG), transported through various border crossings in the Makran and Rakhshan divisions.

District Gwadar shares a sea border with Iran while Balochistan’s Kech and Panjgur districts share a land border. In the past, locals in Gwadar used boats to travel into Iran to bring home Iranian oil and food items. They crossed over into the neighboring country after showing their Pakistani national ID cards (CNICs). 

In August this year, authorities in Gwadar introduced a token system under which only registered boats, around 600, can daily cross into Iran through the Kantani Hor sea route. Locals say the new system has led to unemployment in the district as many can’t afford the tokens, which can cost up to Rs60,000 $215.

“We have been protesting for the last ten days because our people have lost their jobs since the government announced this new token system,” Houth Abdul Ghafoor, a local politician who has been leading the All-Parties Alliance protest since Dec. 13, told Arab News, describing the system as “official bribery.”

“More than three million people in Makran division are linked with border trade with Iran because we don’t have industries and other employment sources. The border restrictions are causing food and oil shortage in the coastal city.”

Jawad Ahmed Zehri, the Gwadar assistant commissioner, said the government had formalized border trade with Iran by registering boats so that all traders could benefit equally.

“Small traders are now directly benefitting from this token system as influential traders previously prevented smaller businessmen from crossing through the border,” Zehri told Arab News. “Now everyone can travel on his allotted number.”

Asked about talks between the administration and protesters, Zehri said the government would not engage with those pressurizing the government to abolish the token system.

The participants of the Gwadar sit-in said they are also protesting power and water shortages in the port city.

“We demand provision of basic facilities like education, water, electricity and job opportunities,” Maulana Hidayat-ur-Rehman, a provincial lawmaker from Gwadar, said.

Gwadar has witnessed regular days-long protests in recent years against the lack of basic amenities and alleged violations of human rights and extrajudicial killings by security agencies, who deny the charge. 

Separatists have been waging a decades-long insurgency in Balochistan, accusing the government and army of exploiting the impoverished province’s mineral wealth, accusations both reject. 


Peace talks to continue in Pakistani district wracked by sectarian feuding as two more killed

Updated 51 min 15 sec ago
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Peace talks to continue in Pakistani district wracked by sectarian feuding as two more killed

  • Clashes between Sunni and Shia tribes have killed over 130 people in Kurram since last month
  • Violence has triggered road closures, disrupting access to medicine, food, fuel, education, work

PESHAWAR: A government-backed council of tribal elders leading peace talks in a Pakistani district where at least 136 people have been killed since last month in sectarian clashes will resume meetings in two days and expects to sign a “durable” peace agreement, a government official said on Monday.

Kurram, a tribal district of around 600,000 in Khyber Pakhtunkhwa province where federal and provincial authorities have traditionally exerted limited control, has frequently experienced violence between its Sunni and Shia Muslim communities over land and power. Travelers to and from the town ride in convoys escorted by security officials. 

The latest feuding started on Nov. 21 when gunmen ambushed a vehicle convoy and killed 52 people, mostly Shias. Nobody claimed responsibility for the assault, which triggered road closures and other measures that have disrupted people’s access to medicine, food, fuel, education and work.

Earlier this month, the provincial government of the Pakistan Tehreek-e-Insaf party formed a ‘grand jirga’ of political and tribal heavyweights to convince rival tribes to shun violence.

“The jirga will resume meetings after two days and is expected to sign a durable peace agreement to the dispute,” Khyber Pakhtunkhwa (KP) government spokesman Muhammad Ali Saif said in a statement, which came after two Shias were killed in the Ochat area of Kurram on Sunday night.

“The two persons were coming to their villages but on the main road unidentified men shot them dead at around 8pm,” Kurram police spokesman Riaz Khan told Arab News on Monday.

“One of the victims was from Alam Sher village and the other was from Zerran, Parachinar.”

Khan said at least 136 people had been killed in the violence since last month. If you added those who had died due to lack of access to hospitals and medicines following the road closures, the number reached at least 200, the police officer said. 

Last week, Saif said authorities had decided to dismantle private bunkers, observation posts used in the fighting by both sides, and given a deadline of Feb. 1 for tribesmen in Kurram to handover heavy weapons. Local tribesmen have so far reportedly refused to surrender their weapons, citing concerns about their safety.

A tribal elder who is part of the jirga, however, said most tribes had agreed to the council’s recommendations. 

“The jirga faces no big hurdles because both the sides have expressed willingness to abide by the jirga decisions, including removal of bunkers and surrendering of heavy weapons,” jorga member Muneer Bangash told Arab News on Monday. 

“Once there are no heavy weapons, I’m sure there will be no mass killings at the scale that we have recently witnessed.”

He said both the sides wanted “communal coexistence and harmony” and realized that the decades-old clash had only brought destruction.

“We will give good news very soon. Half of the threat will be gone once the heavy weapons are collected. Peace will gradually take root,” Bangash added. 

Meanwhile, the KP government has launched a helicopter service to evacuate people and transport aid and medicines to Kurran as a major highway connecting Kurram’s main city of Parachinar to the provincial capital of Peshawar has been blocked since last month, triggering a humanitarian crisis with reports of starvation, lack of medicine and oxygen shortages.

On Sunday, two flights evacuated 27 individuals and 16 government staffers and jirga members, according to KP chief minister’s office. Since last week, over 180 people, including women, children and patients, have been transported via helicopter, with priority given to those in need of urgent medical attention.

In a meeting on Monday, the KP cabinet decided to establish a special police force to secure the Peshawar-Parachinar road, for which 399 people would be recruited. 

Shia Muslims dominate parts of Kurram, although they are a minority in the rest of the country. The area has a history of sectarian conflict, with militant groups like the Pakistani Taliban and Daesh also previously targeting the minority group.


Fam Jam: Husband succeeds wife as chief traffic officer in Pakistan’s Lahore

Updated 23 December 2024
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Fam Jam: Husband succeeds wife as chief traffic officer in Pakistan’s Lahore

  • Amara Athar was appointed first women head of Lahore traffic police last year
  • She handed over the reins last week to her hudband DIG Athar Waheed

ISLAMABAD: The incoming Lahore Chief Traffic Officer is no stranger to Amara Athar, the Pakistani cultural capital’s first women head of traffic police, who handed over the reins this month to her successor.

In a twist that has led to widespread social media commentary, DIG Athar Waheed, who was appointed as Lahore CTO on Saturday, is the husband of Amara. His appointment has also led to the upgrade of the CTO position to the rank of Deputy Inspector General (DIG).

“It was an honor to be your Chief Traffic Officer for the year 2024,” Amara said on X. “May you all continue to work with dedication and professionalism for the safety of road users.” 

BS-19 police officer Amara was appointed Lahore CTO last December, making her the first woman police officer to hold the key traffic control assignment in the provincial capital of Punjab. 

“Ms Athar replaced retired Capt Mustansar Feroz, who had been holding the the Lahore CTO post for the last one year,” Punjab police said in a statement at the time, adding that there were many male contenders for the top slot of the Lahore traffic police, but Punjab Inspector General of Police (IGP) Dr. Usman Anwar preferred the decorated woman officer.

Amara was the fourth woman police officer posted in Lahore under Anwar, showing the Punjab Inspector General’s “policy of prioritising female officers for the field assignments in a bid to change the decades-old tradition of ‘male dominant’ policing in the province,” Punjab police said.


Pakistan stock market registers second highest single-day gain on ‘easing political noise’

Updated 23 December 2024
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Pakistan stock market registers second highest single-day gain on ‘easing political noise’

  • The benchmark KSE-100 index surged by 4,411 points, or 4.3 percent, to close at 113,924 points on Monday, according to stock traders
  • The development came as Pakistan’s government holds talks with ex-PM Imran Khan’s PTI opposition party to address political polarization

ISLAMABAD: The Pakistan Stock Exchange (PSX) began the week on a strong note and gained more than 4,000 points on Monday, stock analysts said, attributing the rally to “easing political noise” and upbeat economic indicators.
The benchmark KSE-100 index surged by 4,411 points, or 4.3 percent, to close at 113,924 points on Monday, according to stock traders. The market saw the trading of 424,809,788 shares and registered the second highest single-day gain from Friday’s close of 109,513 points.
Stock analysts said upbeat economic indicators on surging exports, remittances and foreign exchange reserves as well as the government’s talks with the opposition Pakistani Tehreek-e-Insaf (PTI) party played a catalyst role in the rally.
“Stocks’ bullish record led by scrips across the board as investor weigh falling lending rates after fall in government bond yield and easing political noise,” Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.
Mehanti’s comments came hours after the Pakistani government held a first round of talks with jailed former prime minister Imran Khan’s PTI party to address political polarization in the country.
Pakistan has remained gripped by political unrest and uncertainty since Khan’s ouster from power through a parliamentary no-confidence vote in April 2022, which has also exacerbated Pakistan’s economic hardships.
However, Pakistan’s economic indicators have improved and the stock market has surged significantly, reaching a historic high of 117,039 points this month. Though the market shed around 9,000 points last week, but it recovered on Friday by registering a sharp increase of more than 3,000 points.
Pakistan’s central bank this month cut its key interest rate by 200 basis points to 13 percent, marking the fifth straight reduction since June. The country’s annual consumer inflation also slowed to 4.9 percent in November, lower than the government’s forecast and the lowest in nearly six years. This was down from 38 percent last year.
Data released by the Pakistan Bureau of Statistics also supports positive investor sentiment as the trade deficit narrowed by 7.39 percent during the first five months (July-November) of the current fiscal year, standing at $8.651 billion, compared to $9.341 billion during the same period last year.
Exports rose by 12.57 percent to hit $13.69 billion, while imports increased by 3.90 percent to $22.342 billion during this period. November’s trade deficit narrowed even further, dropping by 18.60 percent year-on-year to $1.589 billion compared to $1.952 billion in November 2023.
Pakistan recorded an increase of 29.1 percent year on year in workers remittances, which amounted to $2.9 billion in November, according to the central bank data. The inflows rose by 33.6 percent to $14.8 billion from July till November, compared to $11.1 billion received during the same period last year.