ISLAMABAD: Pakistan has expressed its strong resolve to keep up efforts on counter financing of terrorism, an official statement said.
Dr. Shamshad Akhtar, the caretaker finance minister, said the coordination between the central bank, banking institutions and law enforcement agencies have been strengthened to curb money laundering and terror financing.
Akhtar chaired on Friday a high-level meeting to discuss matters related to Financial Action Task Force (FATF).
FATF’s plenary meeting is scheduled to take place in Paris from June 24 where Pakistan is required to submit its action plan for review.
Key government ministers and senior officials including Finance Minister Dr. Shamshad Akhtar, Foreign Minister Abdullah Hussain Haroon and National Security Adviser Lt. General (retd) Nasir Khan Janjua, reviewed Pakistan’s strategy ahead of the Financial Action Task Force (FATF) Plenary meeting.
Dr. Shamshad Akhtar said the Finance Ministry had recently improved institutional mechanisms for handling Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).
“Indeed, Pakistan needs to satisfy FATF for avoiding sanctions and demonstrating its resolve to combat the menace of terrorism,” Islamabad-based analyst and professor at Quaid-i-Azam University Zaffar Nawaz Jaspal told Arab News.
Jaspal added: “Nevertheless, it’s an irony that despite Pakistani armed forces’ successful military operations and arrests of Al-Qaeda members and other wanted militants by law enforcement agencies, the Western nations are pressuring Pakistan at the FATF forum.”
While discussing the suggestions to further strengthen measures and strong implementation of mechanism, government officials “underscored Pakistan’s resolve to further strengthen the AML/CFT regime emphasized and agreed on formation of a high-level implementation committee to regularly oversee progress made by different agencies and departments engaged in the drive to counter financing of terrorism,” the official statement read.
The high-level meeting stressed intergovernmental cooperation and coordination for better results.
“Pakistan needs to demonstrate that it will prevent its formal and informal financial sector from being used for socially undesirable motives,” Dr. Vaqar Ahmed, an economist and joint executive director at Islamabad based think-tank Sustainable Development Policy Institute, told Arab News.
“Organizations and individuals responsible for promoting money laundering or related activities should be dealt with as per laws; and implementation of these laws should be certain and timely,” Vaqar suggested.
He added: “Such measures will also benefit the Pakistan economy, which requires greater documentation and transition of activities currently under the informal sector toward formalized systems. The central bank and other regulators would also require capacity building to check transactions not allowed under the law.”
In February this year, FATF decided that Pakistan was to be placed on its gray list from June 2018, and Islamabad was asked to submit its action plan on how it wanted to act against proscribed militant factions and curb terror financing.
FATF is an intergovernmental body that monitors money laundering and terror financing.
Earlier this week, on June 20, the Securities and Exchange Commission of Pakistan (SECP) unveiled new regulations to curb money laundering and CFT regulations to avert being placed on the gray list by FATF.
“The regulations are fully compliant with FATF recommendations, which are mandatory to adopt for Pakistan as a member of the Asia Pacific Group on Money Laundering,” the SECP said in a statement.
Few days before FATF meeting, Pakistan vows to fortify steps against terror financing
Few days before FATF meeting, Pakistan vows to fortify steps against terror financing
- The high-level meeting stressed inter-governmental cooperation and coordination for better results, the official statement said
- FATF plenary meeting is scheduled to take place from June 24 in Paris where Pakistan is required to submit its action plan for review
Threats from Middle East conflict affecting Pakistan maritime security needs — naval chief
- Says Iran’s standoff with US and Israel may manifest into “precarious situation” for ships plying along Sea Lines of Communication
- Pakistan has recently inducted PNS Babur and PNS Hunain, two state-of-the-art warships, into its fleet to enhance maritime security
KARACHI: Pakistani Naval Chief Admiral Naveed Ashraf said this week growing regional threats due to the conflict in the Middle East had necessitated a “robust, adaptive, and technologically advanced” navy and pushed Islamabad to reevaluate its maritime security needs.
Pakistan has recently inducted PNS Babur and PNS Hunain, two state-of-the-art warships, into its fleet as part of a broader effort to enhance its maritime security and operational readiness.
In an interview with the Naval News website, Admiral Ashraf explained the effects on naval technologies of a changing regional geopolitical environment due to the “ongoing Israel-Gaza conflict with its butterfly effect in Yemen and Iran.”
“The already volatile maritime security environment coupled with a diverse range of traditional and non-traditional maritime threats necessitates a robust, adaptive, and technologically advanced Navy with well-trained HR,” he said.
“Therefore, since assuming command as Chief of the Naval Staff, the most pressing challenge was to boost combat readiness through optimal utilization of resources and completion of ongoing Projects under financial constraints in order to boost the Pakistan Navy’s prowess in the increasingly complex maritime security environment in the region.”
Admiral Ashraf said Pakistan was in the midst of complex geo-political and geo-economic competition prevailing in the region and its maritime security was intertwined with the maritime environment in the Indian Ocean, which was rapidly transforming.
“In our immediate neighborhood, long-drawn instability in Afghanistan simmers and continues to impinge upon regional security. On our eastern side, India is disturbing regional peace by blatantly provoking its neighbors,” the officer said.
“On our Western flank, Iran’s standoff with the US and Israel may manifest into a precarious situation for the shipping plying along the international Sea Lines of Communication (SLOCs).”
The ongoing Israel-Hamas conflict, with a spillover in the maritime arena after missile strikes by Houthis on merchant traffic and counter strikes on the Yemen mainland by the US-led West, had created conditions for enhanced ERF presence in the region, Ashraf said, referring to Engine Reliability Fix (ERF), a Naval Aviation Enterprise initiative that aims to improve the lifespan of engines on various aviation platforms.
“Access to shore-based missiles and remotely operated vehicles to the warring groups is a serious threat to SLOCs transiting the Red Sea and the Gulf of Aden,” he added.
In the non-traditional domain, maritime terrorism, piracy, drug trafficking, gun running and human smuggling were other challenges, Admiral Ashraf said, describing Pakistan’s regional maritime security as an “ominous hybrid mix of traditional and non-traditional threats.”
“Operationally, we believe in hybrid approach that combines manned and unmanned systems for naval operations,” he added.
“This strategy enables us to leverage the strengths of both types of platforms, optimizing operational flexibility and effectiveness. By integrating unmanned technologies with traditional manned systems, what I have observed is that operational gaps have been duly addressed, especially with regards to surveillance while substantially cutting repair/ maintenance and operating costs.”
Pakistan says over 24,000 Hajj applications received so far for 2025 pilgrimage
- Saudi Arabia has allotted Pakistan a total quota of 179,210 pilgrims for the upcoming Hajj pilgrimage
- Quota of 5,000 has been allocated this year for overseas Pakistanis on “first-come-first-served basis”
ISLAMABAD: Over 24,000 Hajj applications by Pakistani pilgrims had been received by designated banks by Tuesday, Radio Pakistan reported, as the nation prepares for the annual pilgrimage slated to be held in June next year.
Saudi Arabia has allotted Pakistan a total quota of 179,210 pilgrims for the upcoming Hajj pilgrimage, to be divided equally between the government and private schemes. Around 15 designated Pakistani banks started receiving applications for Hajj 2025 from intending pilgrims on Monday this week.
The deadline to file Hajj applications is Dec. 3 while the draw for the government scheme will be held on Dec. 6.
“Receiving Hajj applications under the Government Scheme, through designated banks, is gaining momentum,” Radio Pakistan reported.
“Today, four thousand Hajj applications were received, bringing the tally to twenty-four thousand, two hundred and sixty-six.”
A quota of 5,000 has been allocated for overseas Pakistanis on a “first-come-first-served basis,” the religious affairs ministry said on Monday.
The ministry announced the country’s Hajj 2025 policy earlier this month, according to which pilgrims can pay fees for the annual pilgrimage in installments for the first time.
Under the government scheme, the first installment of Hajj dues, amounting to Rs200,000 ($717), has to be deposited along with the Hajj application, while a second installment of Rs400,000 ($1,435) must be deposited within ten days of the balloting. The remaining amount has to be deposited by Feb. 10 next year.
On Sunday, Pakistan’s religious affairs ministry said it had launched the “Pak Hajj 2025” mobile application to guide and facilitate pilgrims. The app is available for both Android and iPhone users.
Ex-PM Imran Khan party says wife, key aide not under arrest as Pakistan launches ‘operation’
- Local media widely reported vehicles carrying Bushra Khan and Gandapur left Islamabad and entered Khyber Pakhtunkhwa
- Interior minister says PM has ruled out talks with protesters demanding ex-PM Imran Khan’s release, six including four troops killed
ISLAMABAD: A spokesperson for jailed ex-premier Imran Khan said on Tuesday Bushra Khan, the former PM’s wife, and key party leader Ali Amin Gandapur, who were leading demonstrations in Islamabad to demand Khan’s release, had left a protest caravan but were safe amid widespread media reports they had been arrested.
At least six people, including four paramilitary soldiers and two protesters, were killed during clashes between security forces and protesters who made it on Monday night to the edge of Islamabad’s highly fortified red zone, home to key government and diplomatic buildings, before being pushed back by hundreds of security forces, according to Khan’s Pakistan Tehreek-e-Insaf (PTI) party.
“We are trying to secure Bushra Bibi and Ali Amin for the next few hours because we have credible sources that the law enforcement plans to arrest them with a heavy hand,” Sayed Zulfikar Abbas Bukhari, a spokesman for the PTI party told Arab News when asked if Bushra and Gandapur had left the protest caravan. He confirmed they had not been arrested.
Bukhari declined to disclose where the two protest leaders were but confirmed that their protest caravan, which was nearing the D-Chowk public square in the red zone, had been pushed further back to the capital’s Chongi 26 area by “hundreds” of security officials.
Two security officials, declining to be named, told Arab News an “operation” had been launched against the PTI protest, declining further details.
Pakistani local media widely reported that police chased cars carrying Bushra and Gandapur, but their vehicles entered Khyber Pakhtunkhwa, a northwestern province where PTI is in power and where the federal government does not have jurisdiction.
Supporters of Khan’s PTI on Tuesday reached D-Chowk for a “do or die” sit-in that they say will go on until Khan is freed from prison.
The former premier has been jailed since August last year and faces a slew of charges from corruption to terrorism that he says are politically motivated to keep him behind bars and away from politics.
Speaking to reporters, Interior Minister Mohsin Naqvi ruled out talks with protesters.
“In today’s meeting, the clear-cut decision of the prime minister and others is that there will be no talks with these protesters,” Naqvi said after Prime Minister Shehbaz Sharif met his cabinet and other top officials on Tuesday evening.
Information Minister Ataullah Tarar said the government had agreed to offer the protesters space on the outskirts of Islamabad to hold their protest and would have facilitated them in their activities.
“But why do they want to go to D-Chowk?” the information minister asked. “Because they want to cause damage to the life and property of Islamabad’s citizens. They have among them Afghan nationals, terrorists, dacoits.”
In a message shared with supporters from jail by his team, Khan, 72, urged his followers to stay peaceful but to stand firm till the end.
“My message for my team is to fight until the last ball is bowled. We will not back down until our demands are met!”
LOCKDOWN
As thousands of rally goers left for Islamabad on Sunday in protest caravans, authorities shut down major highways leading to the capital and used shipping containers to block major roads and streets inside the city. Mobile Internet links and apps like WhatsApp have been down since the weekend and schools have been closed for several days in the capital and the nearby garrison city of Rawalpindi.
Last week, the district administration also banned public gatherings in Islamabad for two months, and on Monday, the interior ministry invoked Article 245, calling in the army to maintain law and order.
On Tuesday afternoon, protest leader Ali Amin Gandapur urged protesters to camp at the D-Chowk square and not advance further into the red zone.
“D-Chowk means D-Chowk,” the chief minister told supporters from atop a truck en route to the public square. “Beyond that, as long as Imran Khan’s orders, Imran Khan’s instructions are not given, we will not go beyond that area and we will respect his instructions.”
Amnesty International called on the Pakistan government to protect and ensure the rights of protesters and “immediately rescind the ‘shoot-on-sight’ orders that provide undue and excessive powers to the military.”
“The severe restrictions on assembly, movement and mobile and Internet services as well as arbitrary detentions of thousands of protesters across Pakistan, particularly in Islamabad, are a grave violation of the rights to freedom of peaceful assembly, movement and expression,” the rights group said on X.
Pakistan urges World Bank support on economic reforms, development agenda
- IMF approved a $7 billion bailout loan for Pakistan in September that comes with a tough economic reforms agenda
- IMF is pushing Pakistan to continue prudent fiscal and monetary policies, mobilize revenue from untapped tax bases
ISLAMABAD: Minister for Finance Muhammad Aurangzeb met World Bank Country Director Najy Benhassine on Tuesday and urged the international lender to support Pakistan in its economic reforms and development agenda, Radio Pakistan reported.
The talks in Islamabad came less than two months after the IMF approved a $7 billion bailout loan for Pakistan that is attached to tough economic reforms. The IMF is pushing Pakistan to continue prudent fiscal and monetary policies, and to mobilize revenue from untapped tax bases.
Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles, needing 23 IMF bailouts since 1958.
“During the meeting, the Finance Minister highlighted the importance of collaboration with the World Bank to support Pakistan’s economic reforms and development agenda,” Radio Pakistan reported. “The Finance Minister reiterated the government’s commitment to fiscal discipline, sustainable growth, and efficient resource utilization.”
The discussions focused on the establishment of a robust and transparent tax policy framework to enhance revenue mobilization and improve compliance while ensuring equitable taxation, the report said.
The World Bank team also offered technical assistance to streamline the budget-making process, adopt modern practices to improve transparency and accountability in public financial management, and put in place an effective debt management mechanism to ensure fiscal sustainability and reduce risks.
Issues related to the Agricultural Income Tax Regime and GST harmonization in coordination with provinces and an enhanced focus on the active role of the National Tax Council also came under discussion.
“The Finance Minister expressed gratitude for the World Bank’s support and reaffirmed the government’s resolve to implement reforms aimed at sustainable economic progress,” the reported said, adding that the World Bank officials reiterated the lender’s commitment to assisting Pakistan in addressing economic challenges and achieving its developmental objectives.
The IMF, which approved the new bailout in September, has said the program will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”
The IMF said in its statement on approving the loan that Pakistan had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.
It added that growth had rebounded to 2.4 percent and inflation has receded significantly, falling to single digits, amid appropriately tight fiscal and monetary policies.
A contained current account and calm foreign exchange market conditions have allowed the rebuilding of reserve buffers, and the central bank of Pakistan has been able to reduce interest rates by 700 bps since June in four consecutive cuts.
Despite this progress, Pakistan’s vulnerabilities and structural challenges remain formidable and the tax base remains too narrow.
The South Asian country is the IMF’s fifth-largest debtor, owing the Fund $6.28 billion as of July 11, according to the lender’s data.
Islamabad district commissioner denies reports of fuel shortages amid opposition protest
- Major roads and highways leading to the capital have been sealed off since last week when PTI party launched protest march on Sunday
- Oil Tanker Contractors Association says closed routes had stalled the delivery of petrol to several parts of Punjab province and Islamabad
KARACHI: The Deputy Commissioner of Islamabad on Tuesday rejected reports of fuel shortages after an oil tankers association said the supply of petrol to the federal capital and several cities in Pakistan’s eastern Punjab province had been “severely affected” due to a protest march being led by an opposition party.
Major roads and highways leading to the capital have been sealed off since last week when the Pakistan Tehreek-e-Insaf (PTI) party of jailed former premier Imran Khan launched a protest ‘long march’ to Islamabad on Sunday. The city has been in complete lockdown since, with shipping containers used to block major roads and streets inside Islamabad also.
“Reports of petroleum products crisis in the city are baseless and unfounded,” District Magistrate Irfan Nawaz Memon wrote on X. “There is a sufficient stock of petroleum products at petrol pumps.”
In a statement released on Tuesday, the Oil Tanker Contractors Association had said closed routes had stalled the delivery of petrol to several parts of Punjab, Pakistan’s most populous province, and Islamabad.
“Routes to Islamabad, Rawalpindi and North Punjab are closed due to which supply from petrol tankers is severely affected,” association spokesperson Noman But said in a statement. “Thousands of tankers are waiting for the route to open.”
Butt said petrol had not been supplied to Gujranwala, Jhelum, Sialkot and Kharian districts in Punjab for the last three days, while supply to Islamabad, Kohala and the northern city of Gilgit was also affected.
“Petrol has run out at pumps in many cities,” he added.
Khan’s party aims to pressure the government to release him from jail. He has been in prison since August 2023 on a slew of charges he says are politically motivated. The party is also protesting against what it says was rigging in the Feb. 8 general elections and calling on the government to roll back the recently passed 26th constitutional amendment, which the PTI says is an attack of judicial independence. The government denies this.
PTI supporters broke through barricades and clashed with police as they marched on the capital late on Monday evening, with Interior Minister Mohsin Naqvi saying three paramilitary troops and one policeman had been killed in clashes.
The PTI said in a statement two of its supporters were confirmed dead while over 30 were wounded.
