Pakistan assures US of its ‘full support’ for peace talks with Afghan Taliban: Foreign Minister

Pakistani Prime Minister Imran Khan (L) speaks during a meeting with US Secretary of State Mike Pompeo (2R) at the Prime Minister's Office in Islamabad on Sept. 5, 2018. (AFP / PID handout photo)
Updated 06 September 2018
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Pakistan assures US of its ‘full support’ for peace talks with Afghan Taliban: Foreign Minister

  • Foreign Minister said that Secretary Pompeo’s visit to Islamabad has broken the impasse in bilateral relations of both countries
  • Qureshi announced to have its foreign visit to Afghanistan as Pakistan’s future and peace is linked to stability in the war-ravaged country

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi said on Wednesday that Pakistan has assured the United States of its full support for peace talks with Afghan Taliban as this was in line with the policy of the government and best interest of Islamabad.

“I assured them (the US) full support for peace talks with Taliban,” he said while addressing a news conference here after having talks with the US delegation that was led by Secretary of State Mike Pompeo.

The Secretary of State arrived in Islamabad Wednesday on a day-long visit. He was accompanied by Chairman Joint Chiefs of Staff General Joseph Dunford. They held formal talks with Foreign Minister Shah Mahmood Qureshi and his team at Foreign Office; and later called on Prime Minister Imran Khan and military leadership including chief of army staff General Qamar Javed Bajwa at the Prime Minister Secretariat.

This was the first high-level visit from Washington since the Pakistan Tehreek-e-Insaf (PTI) government assumed office in August this year.

“Today we met with Prime Minister Imran Khan and Foreign Minister Shah Mahmood Qureshi to discuss our diplomatic and military to military relationship,” the Secretary of State tweeted shortly after conclusion of his day-long trip.

The foreign minister said that the US delegation expressed its desire that Pakistan should help Washington for peace talks in Afghanistan.

“Afghanistan is our neighboring country, our peace and our future is linked to it,” he said, “we want that violence should come to an end there and people should lay down their arms for their better future.”

Qureshi said that the US has reviewed its policy with respect to Afghanistan and reached a conclusion that “negotiated political settlement” is the solution of the war-ravaged country.

“There was a convergence and alignment of Pakistan and America’s stance on the issue (during the talks,” he said, “Imran Khan has been saying this for years that there is no military solution of Afghanistan’s conflict.”

He said that he got a hint during the talks that the United States has mentally prepared to have direct talks with Taliban in Afghanistan, as well as Washington does not intend to keep its footprint in Afghanistan for a long period.

“And obviously, this is linked to the situation there and ground reality … but this is a big positive hint,” he said, adding that Afghanistan has been an “impediment” in bilateral relations of the United States and Pakistan.

“This is a good start and impasse in the relations has broken,” he said, adding that this shift in the US policy is a result of the State Department’s efforts and will also be followed through with input from all other relevant institutions.

He said the meeting with the US delegation has “reset an environment” to improve the bilateral relationship. “History is evident to the fact that when we (Pakistan and the US) worked together, it helped us both. And they (the US) acknowledge this fact,” he said.

The foreign minister said that he placed this before the US delegation that Pakistan would need “ease and facilitation” from its eastern border – India – to focus on the western border – Afghanistan.

“We should look towards this aspect too that how we can bring improvement,” he said, “repeated violation of ceasefire on the Line of Control (by India) helps no one but affects the innocent people (living near the border).”

The foreign minister said the meeting helped understand concerns of the US and present Pakistan’s viewpoint on important issues. “The future course of action will be chalked out in a next meeting to be held in Washington,” he said, adding that he has accepted invite of Secretary Pompeo to visit Washington and would go there for a meeting during his upcoming visit to the United Nations General Assembly’s session.

Pak-US relations deteriorated to the lowest ebb since President Donald Trump announced South Asia policy last year. The policy envisaged a greater involvement of India – Pakistan’s archrival – in Afghanistan.

Secretary Pompeo’s visit came on the heels of US announcement of cancellation of $300 million in Coalition Support Fund (CSF) to Islamabad due to a lack of “Pakistani decisive actions” in support of the US’ South Asia strategy.

The foreign minister, however, said that he did not take up the issue of the CSF during the talks as “sovereign nations think differently.”

He said that he also clarified to the US that “blame and shame game will serve no purpose and only vitiate the climate.” “I categorically said that our relationship and negotiations should be candid and frank to move forward.”


Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse

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Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse

  • The KSE-100 index gained 3238 points to close the weekend trading session at 109,513 points
  • Stock analysts attribute strong recovery of the market to easing pressure at local mutual funds

ISLAMABAD: The Pakistan Stock Market on Friday bounced back strongly and gained more than 3,000 points, stock analysts said, a day after it witnessed a “massacre” on the back of significant redemptions from local mutual funds and year-end profit-taking.
The benchmark KSE-100 index gained 3238.17 points to close the weekend trading session at 109,513.14 points. On Thursday, the index plummeted by 5,132 points, or 4.32 percent, to close at 106,274.97 points, compared to Wednesday’s close of 111,070.29 points.
Stock analysts attributed the strong recovery to easing pressure at local mutual funds.
“Likely easing redemption pressure at local mutual funds together with the opening up of attractive valuations encouraged value buyers to reenter the market,” Raza Jafri, head of equities at Intermarket Securities, told Arab News.
Thursday’s slump was led by Hub Power Company Limited, United Bank Limited, Oil and Gas Development Company, and ENGRO, cumulatively contributing a staggering 1,556 points to the index’s overall decline, according to Topline Securities.
The sharp sell-off was triggered by significant redemptions from local mutual funds, compounded by year-end profit-taking by institutions, that dragged the market into a “turmoil,” it added.
The decline came days after Pakistan’s central bank cut its key interest rate by 200 basis points to 13 percent, marking the fifth straight reduction since June.
Yousuf M. Farooq, head of research at Chase Securities, said the market had entered a corrective phase, following a significant rally over the past year.
“We believe that earnings will now drive market performance rather than valuation rerating,” he added.


Pakistan province aims to collect weapons to stem clashes, tribesmen may resist

Updated 5 min 22 sec ago
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Pakistan province aims to collect weapons to stem clashes, tribesmen may resist

  • Kurram, a tribal district near the border with Afghanistan, has been a flashpoint for sectarian tensions for decades
  • Last month’s clashes between Sunni and Shiite tribes have triggered a humanitarian crisis with reports of starvation

PESHAWAR: Provincial authorities in northwestern Pakistan said on Friday they planned to collect heavy weapons to stop sectarian clashes that have killed hundreds, but tribesmen in the historically lawless region said they would not give up their arms.
Kurram, a tribal district of around 600,000 near the border with Afghanistan where federal and provincial authorities have traditionally exerted limited control, has been a flashpoint for sectarian tensions for decades.
Fresh clashes between Sunni and Shiite Muslims erupted last month, triggering a humanitarian crisis with reports of starvation, lack of medicine and oxygen shortages following the blocking of the main highway connecting Kurram’s main city of Parachinar to the provincial capital Peshawar.
Mohammad Ali Saif, spokesman for the Khyber Pakhtunkhwa provincial government, said authorities had decided to dismantle private bunkers — observation posts used in the fighting by both sides — and collect heavy weapons from tribesmen in Kurram to stop the violence.
However, local tribesmen have refused to surrender their weapons, citing concerns about their safety.
“Our weapons are for self-defense, not against the state,” said Jalal Hussain Bangash, a local tribal leader.
Another tribal elder, Zakir Hussain, warned that disarmament would leave the Shiite community vulnerable to attacks. “The government is ignoring ground realities in Kurram,” he said.
“We don’t have medicine in medical stores and edibles in the markets. Previously we would use Afghanistan when the road was closed, but now the Afghan border is also closed for us after the Taliban took over the country.”
Mehdi Hussain, a doctor at the District Headquarters Hospital in Parachinar, told Reuters that more than 80 people, including children, had died in recent weeks due to the lack of medical supplies.
The provincial government and Edhi Foundation have started sending medicines to the region via helicopters.


Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy

Updated 59 min 38 sec ago
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Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy

  • Five Pakistani nationals drowned last week after a boat carrying migrants capsized off Greece
  • Four districts of eastern Punjab province identified as ‘most vulnerable’ to human traffickers

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed action against government officials who were facilitating human traffickers, his office said, following the death of five Pakistani nationals in a migrant boat capsize off Greece.
The boat tragedy, which occurred last week, underscored the perilous journeys many migrants undertake due to conflicts around the world. In the case of Pakistani nationals, the movement is mostly driven by economic reasons, with many young individuals attempting to reach European shores in search of better financial prospects.
Sharif presided over a meeting on Friday to discuss the measures the government needed to take to prevent human trafficking, which he said had brought disgrace to Pakistan worldwide.
“PM directs identification of Federal Investigation Agency officials involved in facilitating human traffickers and strict action against them,” Sharif’s office said in a statement.
The participants were briefed on the Dec. 14 boat incident off Greece and the steps taken to combat human trafficking, including parliamentary efforts to improve legislation on the issue.
The prime minister was informed that only five Pakistanis had been identified so far, while the identities of the others were still being verified, according to his office. The Pakistani embassy in Athens was in constant contact with Greek authorities regarding the migrant boat incident.
“For information and assistance regarding boat accident, Pakistan Embassy in Athens can be contacted on helpline +30-6943850188 and Ministry of Foreign Affairs Crisis Management Unit number 0519207887,” the statement read.
Sharif directed government authorities improve coordination to prevent human trafficking, highlighting that the Gujranwala, Gujrat, Sialkot and Mandi Bahauddin districts of Pakistan’s eastern Punjab province were the “most vulnerable” to traffickers.
He ordered action against officials who conducted a delayed investigation into those responsible for a 2023 boat capsizing incident in Greece that involved hundreds of migrants, including 262 Pakistanis, according to the statement.
The migrants drowned when an overcrowded vessel capsized in international waters off the southwestern Greek coastal town of Pylos. It was one of the deadliest boat disasters ever recorded in the Mediterranean Sea.
Sharif directed authorities complete the ongoing investigation into human traffickers at the earliest and submit a report in this regard.


Pakistan plans to set up 35 special economic zones to facilitate businesses, industry

Updated 20 December 2024
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Pakistan plans to set up 35 special economic zones to facilitate businesses, industry

  • Pakistani officials say over 200 B2B agreements reached with several Chinese companies, signed MoUs worth $70 million
  • PM Shehbaz Sharif calls for accelerating work on regulatory reforms to provide a conducive environment for businesses

ISLAMABAD: Pakistan plans to establish 35 special economic zones (SEZs) to facilitate businesses and industry, officials said on Friday, amid Islamabad’s efforts to boost foreign investment.
The statement came at a meeting of Board of Investment (BOI) officials, presided over by Prime Minister Shehbaz Sharif, to review progress of various ongoing projects, according to Sharif’s office.
Officials briefed the prime minister that they had conducted a survey of the 35 SEZs under the Geographical Information System (GIS) and had extensive data to accelerate the progress of projects in these zones.
More than 200 business-to-business (B2B) agreements have been reached with several Chinese companies and memorandums of understanding (MoUs) worth $70 million have been signed, they added.
“Work on regulatory reforms should be accelerated to provide a conducive environment for business in the country,” Sharif was quoted as saying by his office.
“An effective and comprehensive roadmap should be created for the completion of B2B agreements with international investors and the implementation of signed memorandums of understanding.”
Pakistan, which has been facing an economic crisis, has been making attempts to boost foreign direct investment in a bid to support its $350 billion fragile economy, with Islamabad seeing a flurry of high-level exchanges with China, Saudi Arabia, Japan, Tajikistan, Azerbaijan, Qatar and other countries in recent months.
During the BOI meeting, PM Sharif instructed officials to set investment targets that could be achieved at the earliest.
“Effective marketing of investment opportunities in Pakistan is essential to attract foreign investors,” he said. “Construction of business facilitation centers, organization of road shows and other such measures are very important to bring foreign investment to the country.


Pakistan announces tariff cuts on imports under Azerbaijan trade deal

Updated 20 December 2024
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Pakistan announces tariff cuts on imports under Azerbaijan trade deal

  • Imports from Azerbaijan exempted from all kinds of customs and regulatory duties from Dec. 16
  • Pakistan and Azerbaijan signed trade agreement in July during President Aliyev’s visit to Islamabad

KARACHI: Pakistan’s Federal Board of Revenue (FBR) has waived off customs and regulatory duties on imports from Azerbaijan under the Pakistan-Azerbaijan Preferential Trade Agreement, the finance ministry said in a notification this month.

During Azerbaijan President Ilham Aliyev’s two-day visit to Pakistan in July, both nations agreed to enhance the volume of bilateral trade to $2 billion, vowing to strengthen ties and increase cooperation in mutually beneficial economic projects. They also signed the Pakistan-Azerbaijan Preferential Trade Agreement to boost economic cooperation through the reduction of tariffs on goods like Pakistani sports equipment, leather, and pharmaceuticals as well as Azerbaijani oil and gas products.

“The federal government is pleased to exempt with effect from Dec. 16, 2024, the import into Pakistan from Azerbaijan of the goods specified,” the finance ministry said in a notification. adding that imports from Azerbaijan would be exempted from all kinds of tariffs including customs duty, additional customs duty and regulatory duty. 

“Provided that where the rates of customs duty, additional customs duty, and regulatory duty [...] are higher than specified rates, the lower rates [...] shall apply,” it added.

The tariff concessions cover items including shelled hazelnuts or filberts, apricots, vegetable saps and extracts, non-stemmed tobacco, polyethylene, propylene copolymers, casing, tubing, drill pipes and refined copper wire with a maximum cross-sectional dimension exceeding 6 mm.

In recent weeks, there has been a flurry of visits, investment talks and economic activity between officials from Pakistan and the Central Asian nations as well as other transcontinental and landlocked countries like Azerbaijan as Islamabad seeks to consolidate the South Asian nation’s role as a pivotal trade and transit hub.