Economic stability is essential for Imran Khan’s first 100-day agenda

Unveiling “Imran Khan’s First 100-Day Agenda” in Islamabad, the PTI chairman said civilized societies are not known for big houses in upscale Defense and Bahria Town but how the people live in slums. (LEON NEAL/AFP/FILE)
Updated 28 August 2018
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Economic stability is essential for Imran Khan’s first 100-day agenda

  • Success of Pakistan Tehreek-e-Insaf’s government’s agenda depends on resolution of country’s economic crisis, say experts
  • Khan’s 100-day agenda also included strengthening the federation, revitalizing economic growth, revolutionizing social services, uplifting agriculture, conserving water and ensuring Pakistan’s national security

KARACHI: The “ambitious” 100-day agenda of Pakistan Tehreek-e-Insaf (PTI) is “doable to some extent” but it depends strictly on how Prime Minister Imran Khan’s government will resolve the country's economic crisis, experts say.
Unveiling “Imran Khan’s First 100-Day Agenda” in Islamabad a little over two months before the general elections, the PTI chairman had said civilized societies are not known for big houses in upscale Defense and Bahria Town but how the people live in slums.
As well as announcing housing projects and creating new jobs, the agenda Khan unveiled on May 20, 2018, also included strengthening the federation, revitalizing economic growth, revolutionizing social services, uplifting agriculture, conserving water and ensuring Pakistan’s national security.
“Pakistan hasn’t enough dollars and the expenditure is more than the country’s revenue. For starting housing projects and creating new jobs one needs to spend money and we don’t have it,” said Dr. Kaiser Bengali, who has served as adviser to the Sindh and Balochistan governments as well as representing the latter in the National Finance Commission.
"Given the economic conditions of the country, it would not be fair if we judged the PTI government on the basis of 100 days’ performance. I will give six months before judging it,” he told Arab News.
Mosharraf Zaidi, an Islamabad-based columnist and development practitioner, said it will be very difficult to pursue a 100-day agenda without economic stability and fiscal space.
“So the biggest challenge is not how soon the government starts working on the 100-day agenda but rather how soon it will resolve the impending financial and fiscal crisis,” Zaidi told Arab News.
“If the government is able to resolve the macroeconomic crises it can resolve some of the agenda points,” he emphasized.
Dr. Jabbar Khan, an Islamabad-based expert on political economy, said as well as the agenda being ambitious, PM Khan’s team seems largely to consist of underdogs.
“However, given the public support the only biggest solid proposition backing the IK government, there are some doables, whereas more seems to be a long-term proposition for the new government in Pakistan,” he told Arab News.
Dr. Khan observed that the challenges are massive and with financial constraints, rising imports and a current account deficit, trending high will be a daunting task for the government of the cricketer-turned-political leader.
“The cost of energy and shortfall is a challenge for the new government, while making a commitment to develop the construction industry, build five million housing units, revival of industries are the added problems for the government, which concentrated in its election campaign on youths, jobs and anti-corruption,” he said.
Mazhar Abbas, a Karachi-based analyst, said the ambitions agenda can’t be totally achieved but if Imran fulfills 40 to 60 percent it will be seen.
“It seems that the IK government will focus on bringing the looted wealth back home. If we see any progress on this it will be a great achievement for Khan to show it to his electorate, and the expats sending him donations for his hospitals and educational institutions,” Abbas told Arab News.
KP experience
The analysts also keep the performance of his previous government in KP in mind before predicting its performance in the center.
Rahimullah Yusufzai, a Peshawar-based analyst, said that given the PTI’s performance in KP, the 100-day agenda seems to be unachievable. He said the PTI has failed to fulfill most of the promises. “If fulfilling promises were the criteria, the PTI should have lost the elections. The PTI had made big claims of accountability, education emergency and health reform, etc, but we saw none of these being fulfilled,” Yusufzai said.
According to Yusufzai, people have started counting the days. “Unlike a PTI government only in KP, the PTI in the center and provinces will attract severe criticism, both from the opponents and independent analysts,” he told Arab News.
Zaidi said the PTI have not achieved their manifesto promises in KP but there were a number of visible improvements to public services, which is partly why the electorate in KP returned the PTI to power in such an emphatic manner. The question of fulfilling the manifesto's pledges is not as important as the perception that efforts have been made.
“The PTI will create the impression to an extent, but I also think that federal government and national power is different from provincial power, particularly the question of fiscal space,” he said.
The provinces, Zaidi stressed, should not worry about the fiscal space because they have a set share of the federal divisible pool, but the question of managing the overall economy is a much more complicated one.
“If PM Khan fails to produce something it will damage his political narrative of 22 years and people will say that all he had been claiming was a gimmick. People will say now when you’re in absolute power, why have you now being unsuccessful?” Abbas concluded.


Pakistan seal final spot in Under-19 cricket tri-series with dominant win over UAE

Updated 45 min 48 sec ago
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Pakistan seal final spot in Under-19 cricket tri-series with dominant win over UAE

  • Pakistan posted their highest total of the tournament, amassing 314 for five in 50 overs
  • UAE’s innings ended at 123 in 37 overs, setting the stage for Pakistan-Afghanistan clash

ISLAMABAD: Half-centuries by Farhan Yousuf, Haroon Arshad, Shahzaib Khan and Usman Khan powered Pakistan’s Under-19 cricket team to a commanding 191-run victory over the United Arab Emirates in the fifth match of the U19 tri-series at the ICC Cricket Academy Ground in Dubai on Friday.
The victory secured Pakistan’s place in the final, where they will face Afghanistan U19 on Tuesday, November 26, at the same venue.
This was Pakistan’s second win over UAE in the tournament, having defeated them by 10 wickets in the opening match.
“Pakistan U19 earn an emphatic 191-run win over UAE U19,” the Pakistan Cricket Board announced in a social media post. “They will play the tri-series final on Tuesday.”
The Pakistan team edged Afghanistan by 13 runs in their previous encounter but suffered a loss to them earlier in the series.
After electing to bat, Pakistan posted their highest total of the tournament, amassing 314 for five in 50 overs.
Left-handed openers Shahzaib Khan (71 off 84) and Usman Khan (50 off 64) provided a solid foundation with a 96-run opening stand. Farhan Yousuf (63 off 50) and Haroon Arshad (54 off 34) then built on the momentum with a brisk 75-run partnership for the fourth wicket, while Faham-ul-Haq contributed a steady 37 off 48. For UAE, Noorullah Ayubi and Uddish Suri picked up two wickets each.
Chasing 315, UAE struggled from the outset, collapsing to 52 for five within 16 overs.
Ayaan Misbah (17 off 46) and Uddish Suri (32 not out) attempted to stabilize the innings with a 21-run stand for the sixth wicket, but Misbah fell to Umar Zaib in the 26th over.
UAE’s innings ended at 123 in 37 overs, with Umar Zaib taking four for 51 and Naveed Ahmed Khan claiming three wickets.
The final group match of the series will be played between Afghanistan and UAE on Sunday, November 24.
 


Pakistan 'will break any hand' threatening Saudi relations — PM Sharif

Updated 8 min 4 sec ago
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Pakistan 'will break any hand' threatening Saudi relations — PM Sharif

  • Statement comes after Imran Khan’s wife released a video message widely viewed as critical of the Kingdom
  • Pakistan and Saudi Arabia are close allies, with nearly 3 million Pakistanis living and working in the Kingdon

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday vowed strict action against anyone attempting to undermine Pakistan’s close relations with Saudi Arabia, declaring that his government would “break any hand” threatening ties between the two nations.
Sharif’s statement appeared to reference recent remarks by Imran Khan’s wife, Bushra Bibi, who in a rare public message on Thursday assured state institutions that her jailed husband would not seek revenge against political opponents if he returned to power.
She also made remarks in her video message that were widely viewed as implying that the Saudi government had opposed Khan when he was prime minister from 2018-22.
“Such venom-spitting is an unforgivable crime,” Sharif said while addressing a ceremony on Friday. “I, as the prime minister of Pakistan, want to announce that the nation will break any hand trying to undermine the Pakistan-Saudi friendship.”
“This is not a joke,” he continued. “The allegation is beyond understanding. The biggest national interest is being slaughtered to serve the short-term political interest.”
He criticized the former first lady, whose husband’s PTI party is currently in opposition, saying that the Kingdom had never demanded anything in return from Pakistan for extending economic and diplomatic support but instead always “opened its doors.”
“I think there can be no greater enmity against Pakistan than this [issuing such comments],” he said, adding that Khan’s Pakistan Tehreek-e-Insaf (PTI) party was sacrificing the country’s interest for its political interests.
Sharif said “no one will be allowed to play” with Pakistan’s interests when it concerned “brotherly allies” such as Saudi Arabia.
Earlier, Defense Minister Khawaja Asif also addressed the issue in a press conference, highlighting that over 2.8 million Pakistanis were working in the Kingdom, sending billions of dollars in remittances back to their country every year.
“Our cordial and friendly relationship with Saudi Arabia should not be affected due to someone’s political gains,” he said. “Such a controversial statement is an effort to save PTI’s sinking ship.”
Khan was ousted from the prime minister’s office in a parliamentary vote of no-confidence in 2022, alleging that he was removed by his political rivals and the all-powerful military at the behest of the United States. All three parties deny the accusation.
The cricketer-turned-politician has been in prison since August last year, facing a slew of legal challenges. He denies any wrongdoing, claiming that all cases against him are politically motivated to keep him in jail.
His PTI party is set to kick off a “long march” to stage a protest in Islamabad on Nov. 24, aiming to pressure the government into releasing Khan from prison. Authorities have refused to grant permission to hold the gathering and imposed a ban on public assembly in the capital for two months.


Pakistani stocks break psychological 99,000 barrier on optimism over rates, reserves

Updated 4 min 56 sec ago
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Pakistani stocks break psychological 99,000 barrier on optimism over rates, reserves

  • An analyst attributes the intraday rally to broad-based gains across most economic sectors
  • The stock market has remained bullish since the government slashed policy rate in November

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Friday breached a major psychological barrier, surging past 99,000 points during intra-day trading before settling at 97,798.23, as analysts attributed the rally to investor optimism driven by falling lending rates and higher foreign exchange reserves.
The benchmark KSE-100 index climbed 2,057.40 points by 11:10 am, reaching 99,385.79 points from the previous close. However, the index closed at 97,798.23, marking an increase of 469.84 points or 0.48 percent.
Analyst Ahsan Mehanti of Arif Habib Corporation said bank levies on large deposits, surging global oil prices, and rupee stability were fueling investor optimism.
“Stocks remained bullish, led by scrips across the board, as investors weighed falling lending rates and the imposition of bank levies on large deposits following a drop in government bond yields,” he told Arab News. “Surging global crude oil prices, rupee stability, and higher forex reserves played a catalytic role in the record surge at the PSX.”
Last month, Pakistan’s external current account recorded a surplus of $349 million, marking the third consecutive month of surplus and the highest in this period. The current account reflects a nation’s transactions with the world, encompassing net trade in goods and services, net earnings on cross-border investments and net transfer payments.
A surplus indicates that a country is exporting more than it is importing, thereby strengthening its foreign exchange reserves.
A bullish trend has been observed in the stock market since Pakistan’s central bank cut its key policy rate by 250 basis points, bringing it to 15 percent earlier this month. Economic indicators have also steadily improved since securing a 37-month, $7 billion bailout from the International Monetary Fund (IMF) in September.
In the past, the country faced a prolonged economic crisis that drained its foreign exchange reserves and saw its currency weaken amid double-digit inflation. Last year, Pakistan narrowly avoided a sovereign default by clinching a last-minute $3 billion IMF bailout deal.


US vows to be ‘steadfast partner’ after deadly attack in Pakistan’s Kurram district

Updated 22 November 2024
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US vows to be ‘steadfast partner’ after deadly attack in Pakistan’s Kurram district

  • American diplomatic mission says Pakistanis deserve to live free from harm, danger and threat
  • It offers condolences to victims’ families after 41 people were killed by unknown gunmen this week

KARACHI: The United States on Friday condemned a deadly attack in Pakistan’s Kurram district that killed 41 people this week, reaffirming its commitment to stand with Pakistan in ensuring the safety of its citizens against such militant attacks.
Unidentified gunmen targeted vehicles carrying Shiite community members in the Kurram district of Khyber Pakhtunkhwa province on Thursday, in one of the deadliest sectarian attacks in recent years. The assault, which also left many critically injured, occurred in a region already plagued by deadly clashes in recent months.
“The United States will remain a steadfast partner as Pakistan works to ensure the safety and security of all its citizens,” Jonathan Lalley, the spokesperson of the US diplomatic mission in Pakistan, said in a statement. “We stand in solidarity with Pakistan and the people of Khyber Pakhtunkhwa in this difficult time.”
Lalley expressed condolences to the victims’ families and called for a full recovery for the injured.
“The Pakistani people deserve to live free from harm, danger, and threat, and to feel protected and secure in their daily lives,” he added.
No group has claimed responsibility for the attack, which followed the reopening of a key highway in the region after it was closed for weeks due to sectarian violence.
Kurram, a volatile district near the Afghan border, has been a flashpoint for sectarian clashes between Sunni and Shiite communities, adding to the challenges of maintaining security in the area.
The US-Pakistan forged a counterterrorism partnership in the aftermath of the September 11, 2001, attacks, to address regional security challenges. Over the years, however, the relationship faced friction, while the US-led international forces were in Afghanistan.
Despite the tensions, both countries reaffirmed their commitment to security cooperation and counterterrorism efforts, especially in the wake of the US military withdrawal from Afghanistan in 2021.
The commitment to security partnership reflects a shared goal of combating extremism and ensuring regional stability.
 


Pakistan, Malaysia agree to enhance military cooperation with focus on air force training

Updated 22 November 2024
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Pakistan, Malaysia agree to enhance military cooperation with focus on air force training

  • Malaysian air chief praises PAF’s advancements in indigenization on his first Pakistan visit
  • His Pakistani counterpart reaffirms commitment to training Malaysian Air Force personnel

ISLAMABAD: Pakistan and Malaysia have agreed to deepen bilateral military cooperation, with a particular emphasis on joint training and air power collaboration, Pakistan’s military said on Friday.
The understanding was reached during a meeting between Pakistan Air Force (PAF) Chief Air Chief Marshal Zaheer Ahmed Baber Sidhu and Royal Malaysian Air Force Chief General Tan Sri Dato’ Sri Mohd Asghar Khan bin Goriman Khan at Air Headquarters in Islamabad.
“The [Pakistan] Air Chief reaffirmed his commitment to enhancing military partnership between the two Air Forces through joint training initiatives, particularly within the realm of air power,” the Inter-Services Public Relations (ISPR) said in a statement. “These initiatives will encompass provisioning of both basic and tactical level training for personnel of the Malaysian Air Force.”
The Malaysian air chief, making his first visit to Pakistan, praised the PAF’s advancements in indigenization and technological innovation. He also expressed interest in bolstering ties through enhanced collaboration in training, maintenance and operational excellence.
The meeting included discussions on defense cooperation, joint exercises and technology sharing, ISPR said, highlighting the robust defense relationship between the two nations.
During his visit, the Malaysian official toured the National Aerospace Science & Technology Park Silicon and the PAF Cyber Command, where he was briefed on Pakistan’s advanced operational capabilities.
He also lauded the innovative projects displayed at the ongoing International Defense Exhibition IDEAS-2024 in Karachi.
Earlier, the Malaysian air chief was presented with a guard of honor upon his arrival, ISPR added.