ISLAMABAD: Pakistani exports registered a whopping increase of over 13 percent in February when compared to the corresponding month of the last year as the country received more orders from the international market amid the coronavirus pandemic.
Global stock markets, businesses, manufacturing and production have slowed down since January when the novel coronavirus outbreak was first reported in China’s Wuhan city that has now spread to more than 80 countries and territories.
The virus has killed more than 3,300 people, most of them in mainland China, with more than 95,000 global cases.
The country has registered an increase of 13.82 percent in the exports with a 1.71 percent decrease in imports, bringing down the balance of trade to 14.61 percent in February, according to the Pakistan Bureau of Statistics.
Pakistan’s total exports were recorded at $24.7 billion in the last fiscal year which the government is struggling to double in the next five years to bridge the fiscal deficit, avert balance of payments crisis and boost foreign exchange reserves.
“The recent increase in our exports is mainly attributed to the coronavirus crisis which has slowed down global production, especially in China,” Shahid Sattar, executive-director of the All Pakistan Textile Mills Associations, told Arab News on Thursday.
He said that Pakistani exporters had started getting more orders from different countries after the spread of coronavirus since it decelerated production and manufacturing activities in China, one of the largest exporters to the developed countries.
“We will be able to retain this global market share and increase our exports manifold in the coming months, provided that our exporters maintain the quality of their products,” Sattar said.
Pakistan has devalued its currency by approximately 32 percent in the last two years and introduced a number of incentives for manufacturers and industrialists in a bid to boost its exports. The country also secured a $6 billion bailout package from the International Monetary Fund (IMF) in May last year, promising to let the currency exchange rate adjust to market conditions.
“The increase in the export figures is a sign that the economy of the country is moving in the right direction,” Abdul Razak Dawood, Adviser to Prime Minister Imran Khan for Commerce, Industry and Investment, said on Thursday.
Economists and experts have, however, urged the government to formulate a long-term export policy to retain the upward trend and increase the country’s access to global markets.
“Until and unless we boost our competitiveness in the global market with respect to Bangladesh, Turkey and Vietnam, we won’t be able to sustain the increase in our exports,” Haroon Sharif, senior economist and former chairman of the Board of Investment, told Arab News.
He said that Pakistan would need to increase its exports to at least $40 billion in the next five years to boost its foreign exchange reserves and strengthen its economy to a level where it can avoid IMF loans.
“It’s a long struggle to boost the exports, and we need to be consistent in our policies to achieve the goal,” Sharif added.
Pakistan’s exports pick up amid coronavirus pandemic
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Pakistan’s exports pick up amid coronavirus pandemic
- The country can retain the global market share by providing quality products, say industrialists
- Experts believe Pakistan must adopt consistent policies to boost the exports to $40 billion in five years
Karachi gears up for Champions Trophy with special arrangements
- Security for the tournament was discussed among senior police, Rangers and administration officials
- The authorities will run a special shuttle service between designated parking spots and the stadium
KARACHI: The administration in Karachi, set to host the inaugural match of the ICC Champions Trophy next month, announced on Friday a series of special measures to ensure the tournament's success and provide a memorable experience for spectators.
Pakistan will host the tournament from February 19 to March 9 across venues in Lahore, Islamabad and Karachi. A hybrid model has been adopted for the event, as India’s matches will be played in Dubai after it showed reluctance to play in Pakistan, citing security concerns.
A meeting to review the arrangements was held under the chairmanship of Karachi Commissioner Syed Hassan Naqvi.
“It was decided that foolproof security would be provided during the event,” said an official statement from the commissioner’s office.
“The stadium’s surroundings and routes leading to it would be decorated,” it continued. “Special parking arrangements would be made, and a shuttle service would be provided from parking spots to the stadium.”
The meeting was attended by senior officials from the police, Rangers and other relevant institutions.
Among the participants were also the director-general of the Trade Development Authority of Pakistan and representatives of the Pakistan Cricket Board (PCB).
PCB’s General Manager of the National Stadium Arshad Khan provided a detailed briefing on the tournament schedule.
The ICC Champions Trophy 2025 will feature eight teams competing in 15 matches. Group A includes Pakistan, India, New Zealand and Bangladesh, while Group B comprises South Africa, Australia, Afghanistan and England.
The opening match of the tournament will see Pakistan facing New Zealand on February 19 in Karachi.
The event is expected to strengthen Pakistan’s international cricket profile, particularly as it works to meet public expectations for hosting such a major championship.
Government says talks with Imran Khan’s party to continue despite his 14-year sentence
- Barrister Aqeel Malik, government’s legal spokesperson, calls negotiations and conviction ‘separate matters’
- An analyst predicts ‘more direct talks’ between PTI and the security establishment after the court verdict
KARACHI: A government spokesperson said on Friday political negotiations with former Prime Minister Imran Khan’s opposition Pakistan Tehreek-e-Insaf (PTI) would not be affected by an accountability court verdict earlier in the day, which sentenced the ex-premier to 14 years in prison.
Khan, who has been incarcerated for well over a year, warned of civil disobedience from a high-security prison in Rawalpindi last month while calling for the release of political prisoners from his party, which has complained of a government crackdown since the downfall of the PTI administration in April 2022.
Subsequently, the government-PTI talks began as an attempt to reduce political bitterness and polarization in Pakistan. However, the accountability court’s verdict in a case involving a charitable entity, Al-Qadir Trust, set up by Khan and his third wife Bushra Khan in 2018, has raised questions about the future of the negotiations.
The court also sentenced Khan’s wife to seven years in prison in the case. Pakistani authorities allege that the trust was a front for the couple to receive valuable land as a bribe from real estate developer Malik Riaz Hussain, one of Pakistan’s richest and most powerful businessmen. Hussain, like Khan and Bushra, denies any wrongdoing.
“The talks are going on in parallel,” Barrister Aqeel Malik, government spokesperson for legal affairs, told Arab News over the phone. “These are two separate matters. The decision from the court should not be mixed with the ongoing talks with the opposition at this particular time.”
Malik argued that the case was decided in accordance with the legal provisions of the accountability laws.
“Today’s decision is in accordance with the law and justice has been served, where a huge loss had been caused to the national exchequer for private gains,” he added. “It has now been decided by the competent court that Mr. Khan stands certified to have been involved in corruption.”
The Al-Qadir Trust case, involving allegations of corruption and misuse of authority by Khan, revolved around £190 million recovered from the Pakistani real estate tycoon, who was investigated by British authorities for money laundering.
Riaz surrendered the amount as part of a settlement, which was returned to the Pakistani state under the laws of the United Kingdom. However, the Khan administration allegedly adjusted it against the real estate developer’s liability in Pakistan’s top court, where he was fined in a case for illegally acquiring land for a major project in Karachi.
The ex-premier was criticized for using the sum to reduce Riaz’s owed amount rather than depositing it in Pakistan’s national treasury. The country’s anti-graft National Accountability Bureau also accused him of approving the adjustment in return for financial benefits.
Unlike Malik, Khan’s close aide and senior PTI leader, Sayed Zulfikar Bukhari, described the talks as a political ploy by the government.
“Talks were just a bluff,” he told Arab News, adding that it was “obvious” the PTI founding leader and his wife would be sentenced in the case.
“Al-Qadir Trust is a nonprofit organization. Neither of them was a beneficiary, and the money had gone to the Supreme Court of Pakistan,” he continued, describing the verdict as another act of “political victimization and a pressure tactic to make Khan agree to talks.”
The former premier’s conviction has come at a time when the PTI confirmed meetings with Pakistan’s powerful army chief, General Asim Munir, earlier this week, although security sources denied that the interaction focused on political matters.
Nadia Naqi, a talk show host and political analyst, said the verdict could pave the way for “more direct talks with the security establishment” of Pakistan, which she said was always interested in negotiating with a weaker Khan.
“Negotiations now, which have taken place within political circles, will become easier because a weak Imran Khan, a convicted Imran Khan, will be more likely to agree to the terms [offered to him] compared to a Khan who has obtained bail in various cases,” she argued.
“I believe that negotiations with the PTI will now move forward. Whether the government is involved or not, it won’t matter,” she added.
Iftikhar Ahmed, a Lahore-based analyst, said the future of the talks would depend on the reactions of both the government and the PTI.
“Until now, the PTI has not announced that they are ending the negotiations,” he noted. “The party did not offer this as a condition for negotiations that the courts should not announce their verdicts against Khan. Their demand was the release of the founder of their party.”
Meanwhile, Aitzaz Ahsan, a veteran lawyer and politician, maintained that the judgment against Khan had legal loopholes.
“This is another case in which the conviction will be converted into an acquittal by a high court,” he said, adding that the government had to show the state had suffered a financial loss due to Khan’s decision about the repatriated money, pointing out this was not adequately done.
Shakeel and Rizwan lead Pakistan recovery in fog-hit first Test against West Indies
- Bad light in Multan ended play with just 41.3 overs bowled, with the hosts on 143-4
- Shakeel and Rizwan added 97 after coming together with Pakistan in trouble at 46-4
MULTAN: Saud Shakeel and Mohammad Rizwan hit unbeaten half-centuries to lead a Pakistan fightback in the first Test against the West Indies on Friday as the hosts reached 143-4 at the close of a fog-hit opening day.
When bad light in Multan ended play with just 41.3 overs bowled, Shakeel was on 56 for his ninth half-century and Rizwan was 51 not out for his 11th.
The pair added 97 after coming together with Pakistan in real trouble at 46-4.
The left-right combination of Shakeel and Rizwan negotiated the three-spinner West Indies attack with aplomb after fast bowler Jayden Seales initially left the home team struggling.
“This pitch is tough to bat on,” said Rizwan.
“We batted with caution and just took advantage of loose balls. It’s tough to judge what should be a good total, but we will target 300 plus.”
Sensing the dry and grassless Multan Stadium pitch will be tricky for batting on the last two days — and with spin set to play a major role — the home team opted to bat after winning the toss.
But play was delayed because of early morning fog compounded by poor air quality, resulting in limited visibility and wiping out the first session.
Shakeel has so far cracked four boundaries while Rizwan has seven hits to the fence.
Seales finished with 3-21 off 10 overs.
“My aim was to build pressure and get wickets,” he said. “I sense spin will play a major role on this pitch going forward.”
Both teams started with three spinners and just one frontline fast bowler, and the tourists opened the bowling with left-arm spinner Gudakesh Motie alongside Seales.
It was Seales who provided the breakthrough, forcing an edge off debutant Muhammad Hurraira to wicketkeeper Tevin Imlach in the sixth over. Hurraira scored six.
Three overs later, Motie dismissed skipper Shan Masood off a faint edge to the wicketkeeper for 11, before Seales trapped Kamran Ghulam leg-before with a sharp incoming delivery for five.
It became 46-4 when Babar Azam edged Seales behind the wicket for eight, continuing a poor run of scores at home for Pakistan’s premier batter.
The two-match series is part of the World Test Championship. Pakistan currently rank eighth and the West Indies ninth and last.
Security forces kill five militants in northwest Pakistan
- The military says weapons and ammunition were recovered from the militants
- Pakistan has been targeting TTP fighters in intelligence-based operations in KP
KARACHI: Pakistan’s security forces killed five militants, including a key commander, during an intelligence-based operation in the country’s northwest, the military said on Friday.
The operation, which took place in Tirah, Khyber Pakhtunkhwa (KP) province, comes as Pakistani authorities face increasing attacks by the banned Tehreek-e-Taliban Pakistan (TTP) from neighboring Afghanistan.
Earlier this week, Pakistan’s army chief, General Asim Munir, assured political stakeholders in KP that the military would not launch a full-scale operation against the TTP but would continue targeted, intelligence-based actions to counter the group.
“On 17 January 2025, Security Forces conducted an intelligence-based operation in general area Tirah, Khyber District on reported presence of khwarij [TTP militants],” the military’s media wing, the Inter-Services Public Relations (ISPR), said in a statement.
“During the conduct of operation, own troops effectively engaged khwarij location, as a result of which, five khwarij including kharji ring leader Abidullah @ Turab, were sent to hell, while one kharji was apprehended,” it added.
The ISPR noted that weapons and ammunition were recovered after the raid.
The slain militants, including the commander, were linked to several instances of extremist violence targeting both security forces and civilians.
Tirah was a major hotbed of militant activity during the 2000s and early 2010s, serving as a stronghold for groups like the TTP, Lashkar-e-Islam and Al Qaeda-linked factions.
Prime Minister Shehbaz Sharif praised the security forces for the successful operation, commending their efforts to combat militancy.
“The entire nation stands with our security forces in the ongoing fight against terrorism,” he said in a statement released by his office. “We are determined to eradicate terrorism in all its forms from the country.”
‘Proud moment’ as Pakistan launches first indigenous satellite to predict natural disasters
- PM Sharif praises all Pakistani scientists and engineers working on the project for their team effort
- The country’s military calls the development ‘a momentous milestone in Pakistan’s space journey’
ISLAMABAD: Prime Minister Shehbaz Sharif called it a “proud moment” for the nation as China launched Pakistan’s first indigenously developed Electro-Optical (EO-1) satellite into space on Friday, aiming to monitor mineral resources and predict natural disasters.
The EO-1 satellite was launched from China’s Jiuquan Satellite Launch Center, following work by Pakistan’s Space and Upper Atmosphere Research Commission (SUPARCO) to advance the country’s technological capabilities in space science.
The satellite is expected to enhance Pakistan’s ability to manage natural resources, predict and respond to floods and other disasters, support food security and drive economic growth through informed decision-making and sustainable development.
“Soaring higher and higher! Proud moment for the nation as [Pakistan] proudly launches its first indigenous Electro-Optical (EO-1) satellite from the Jiuquan Satellite Launch Center, China,” Sharif said in a social post on X, formerly Twitter.
“From predicting crop yields to tracking urban growth, #EO1 is a leap forward in our journey towards progress,” he continued, praising SUPARCO and all the scientists and engineers involved in the project for their team effort.
According to China’s state-run Xinhua news agency, the satellite was launched at 12:07 p.m. Beijing time aboard a Long March-2D carrier rocket and successfully entered its planned orbit.
The Pakistani military also applauded the development, highlighting its wide-ranging applications across various sectors.
“In agriculture, it will enable precision farming by monitoring crops, assessing irrigation needs, predicting yields, and supporting food security initiatives,” the military media wing, the Inter-Services Public Relations (ISPR), said in a statement, calling the development a “momentous milestone in Pakistan’s space journey.”
“For urban development planning, the satellite will assist in tracking infrastructure growth and managing urban sprawl,” it added.
Among its other roles, the EO-1 will aid in the extraction and conservation of natural resources such as minerals, oil and gas. Additionally, it will help monitor glacier recession and water resources.
Pakistan has made significant progress in its space research program. Last year, SUPARCO announced its rover would join China’s Chang’E 8 mission to explore the moon’s surface in 2028.
“This achievement positions advanced space technology capabilities at the forefront of national progress,” ISPR added in the statement after the satellite launch, emphasizing its role in furthering Pakistan’s ambitions in space exploration.
