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
https://arab.news/mqesk
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
PM Sharif tells business leaders private sector key to economy ahead of June 10 budget
- The prime minister assures chambers of commerce representatives of his administration’s full support
- He promises to reduce cost of doing business in the country, highlights zero tolerance for tax evasion
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday emphasized the pivotal role of the private sector in driving economic development, asserting that a robust public-private partnership was essential for the country’s emergence as a strong global economy.
Sharif made these remarks during a meeting with presidents of chambers of commerce from across the nation, coinciding with the government’s announcement to present the next federal budget on June 10.
The government has consistently stressed the need for the private sector to lead in strengthening the national economy, assuring it of state support.
Sharif reiterated this stance, highlighting the necessity of collaboration between the government and private enterprises in the country.
“There is a need to mobilize the private sector to achieve economic self-reliance,” the Prime Minister’s Office quoted him as saying during the meeting.
“Protecting the rights of the Pakistani business community and providing them with a conducive environment for profitable business are among the top priorities of the government,” he continued.
Sharif also pledged to reduce the cost of doing business in Pakistan, noting that measures were being implemented to facilitate access to loans and reduce electricity prices.
Addressing tax compliance, he emphasized a zero-tolerance policy toward tax evasion. Pakistan has historically one of the lowest tax-to-GDP ratios in the region.
The government has tried to addressed the situation by reforming its tax collection body through increased automation to improve collection and compliance.
The official statement said the delegation of business leaders commended the government’s economic policies, citing gradual improvements in the national economy and business environment.
They also presented budget proposals for the upcoming fiscal year.
Pakistan is scheduled to release a comprehensive economic survey for the outgoing fiscal year on June 9, only a day ahead of the budget preparation.
Pakistan says 25,698 pilgrims to perform Hajj under private quota in 2025
- The annual pilgrimage is expected to take place between June 4 and June 9 this year
- Around 55,642 Pakistani Hajj pilgrims have landed in Saudi Arabia so far via 244 flights
ISLAMABAD: Pakistan’s religious affairs minister, Sardar Muhammad Yousaf, said on Friday only 25,698 pilgrims would be able to perform Hajj this year under the private scheme, after thousands of allocated slots were revoked due to non-compliance by private operators with Saudi booking rules and deadlines.
The kingdom had granted Pakistan a total quota of 179,210 pilgrims for Hajj 2025. Typically, this national quota is evenly split between the government-run and private schemes. However, the private sector failed to meet procedural requirements set by Saudi authorities, leading to a significant cut in their share, down from 89,801 to just over 25,000, leaving more than 67,000 would-be pilgrims affected.
“25,698 people will be able to go for Hajj under the private quota,” Yousaf said while addressing a press conference.
“Up until February 14, only 3,600 pilgrims had submitted their payments, but after a one-week extension, 10,000 more applications were received, bringing the total number to 13,000.”
He highlighted that private Hajj operators had registered 904 companies with the Saudi authorities, based on a list provided by the religious affairs ministry. However, some people ignored this and made payments to unregistered Hajj operators.
Yousaf assured that a committee formed by Prime Minister Shehbaz Sharif would investigate the issue.
He said Pakistan International Airlines, Saudi Airlines, Air Sial, Airblue, and Serene Air would be transporting Pakistani pilgrims for Hajj.
Earlier in May, a ministry spokesperson issued guidelines for Hajj pilgrims, including verifying the authenticity and quota approval of private tour operators before making payments, visiting the ministry’s official website to confirm registration and avoiding reliance on unverified advertisements or information.
The ministry strongly urged all prospective pilgrims to exercise utmost caution when booking Hajj packages through private tour operators.
Some registered private organizations also failed to pay dues within the timeline set by Saudi authorities, prompting Sharif to intervene and request an extension of the deadline, which was approved.
This year’s annual pilgrimage is expected between June 4 and June 9, with nearly 89,000 Pakistanis traveling to Saudi Arabia under the government scheme.
Pakistan launched its Hajj flight operation on April 29.
Around 55,642 Pakistani Hajj pilgrims have landed in Saudi Arabia so far via 244 flights.
Karachi hospital reports four COVID-19 deaths amid surprise summer surge
- A senior physician says all those who succumbed to the disease in the past fortnight were elderly individuals
- Health experts say the recent surge in coronavirus cases during the summer months is an unusual trend
KARACHI: At least four people with underlying health conditions have died of COVID-19 at a major Karachi hospital in the past two weeks, as experts report an unusual spike in infections during the city’s peak summer season.
All four fatalities occurred at the Aga Khan University Hospital (AKUH), where doctors say they are seeing a steady increase in admissions linked to the coronavirus— a trend they describe as “unexpected” at this time of year.
“In the past two to three weeks, we have seen a significant increase in COVID cases,” Prof. Dr. Syed Faisal Mahmood, a professor of infectious diseases at AKUH, told Arab News, confirming the death of four people during the past two weeks.
The surge, he said, was happening in late spring with temperatures exceeding 40 degrees Celsius.
COVID-19, caused by the SARS-CoV-2 virus, is a highly contagious respiratory illness that was first detected in late 2019 and declared a global pandemic within months. While the virus typically spreads more easily in colder months due to increased indoor activity and lower humidity, experts say its spread during summer in Karachi is a rare deviation from past seasonal patterns.
Mahmood said most infected individuals have been coming to the hospital with mild symptoms, such as sore throat, cough, body aches, and fever, but the virus remains dangerous for older adults and those with weakened immune systems.
“Like in previous years, this year the severe cases of COVID are mostly being seen in people who are older, especially those above 65, or those with weak immune systems,” he said.
“Among these COVID cases, there are some patients who have been hospitalized, and there have also been some deaths,” he added.
Mahmood added that while routine testing is no longer required for everyone with symptoms, caution is essential.
“If you suspect that you have COVID or any other cold or cough-related infection, it is better that you wear a mask,” he advised. “We recommend wearing a mask for at least five to ten days so that others do not get infected.”
The infectious diseases expert also urged caution for those in close contact with the elderly.
“If you are caring for someone who is elderly, then please do not visit them if you are feeling unwell, or at least wear a mask,” he said. “Please take care of yourself, and we hope that there will not be a major further increase in COVID cases.”
Pakistan extends airspace ban on Indian aircraft until June 24 amid ongoing tensions
- The restriction was originally imposed on April 24 after an attack in Kashmir killed 26 tourists
- The airspace closure impacted Indian airlines, particularly on long-haul international routes
ISLAMABAD: Pakistan has extended its ban on Indian aircraft using its airspace until June 24, the Pakistan Airports Authority (PAA) announced on Friday, amid continued bilateral tensions following recent military clashes this month.
The restriction was first imposed on April 24, only two days after an attack in Indian-administered Kashmir that killed 26 people. India blamed Pakistan for the attack despite Islamabad’s denials. The administration in New Delhi also downgraded bilateral diplomatic ties and took other steps like suspending visas for Pakistanis and shutting border crossings.
In response, Pakistan took its own measures, including the closure of its airspace to Indian aircraft, including commercial and military flights.
“The ban on Indian aircraft flying through Pakistani airspace has been extended until 4:59 AM on June 24, 2025,” the PAA said.
“All aircraft that are Indian-registered, operated, owned or leased will remain subject to the ban,” it added.
The airspace closure has significantly impacted Indian airlines, particularly on long-haul international routes.
Air India, which operates numerous flights to Europe and North America, has been forced to reroute flights, leading to increased fuel consumption, longer flight times, and additional operational costs.
The airline estimates that the ban could result in approximately $600 million in additional expenses over a year and has sought compensation from the Indian government.
Despite a ceasefire agreement announced on May 10, which has held according to Pakistani Deputy Prime Minister Ishaq Dar, the extension of the airspace ban indicates ongoing diplomatic strains.
The situation was further exacerbated by a recent school bus bombing in Pakistan that killed four children, an incident Islamabad has blamed on New Delhi. However, the Indian authorities have denied the charge.
Pakistan calls for Gaza aid access amid Israeli push for full control
- Israel’s war on Gaza has killed around 53,000 Palestinians and displaced two million
- Pakistan says it opposes any attempts to displace Palestinians from their ancestral lands
ISLAMABAD: Pakistan’s foreign office on Friday called for the unimpeded delivery of humanitarian aid to millions of Palestinians after Israeli Prime Minister Benjamin Netanyahu announced his country’s plan to press ahead with its military campaign and take full control of the Gaza Strip.
Israel imposed a total blockade of the war-torn Palestinian territory in March, cutting off the entry of food, medicine, fuel and other essential supplies. The move triggered a deepening humanitarian crisis, with aid agencies warning of widespread malnutrition and a looming famine, particularly among children.
The blockade has drawn international condemnation, with the United Nations and human rights groups urging its immediate lifting on legal and humanitarian grounds. While Israel permitted limited aid deliveries this month, UN officials described the efforts as “a drop in the ocean” for Gaza’s 2.1 million residents.
“The expansion of Israeli ground operations in Gaza, as well as its announcement to take control of all of Gaza, poses a grave threat to efforts aimed toward achieving peace and stability in the region,” the foreign office spokesperson, Ambassador Shafqat Ali Khan, said during his weekly media briefing. “In addition, Israel also continues to deliberately obstruct critical humanitarian aid from reaching millions in dire need.”
“Pakistan reiterates its call on the international community for an immediate end to Israel’s genocidal campaign and to ensure a lasting ceasefire in Gaza,” he continued. “It also urges concrete steps toward provision of unimpeded humanitarian supplies to millions of Palestinians in dire need, as well as to hold Israel accountable for its egregious crimes.”
Khan condemned Israeli attacks on hospitals and other critical infrastructure during its military campaign.
He also maintained that Pakistan opposed any attempts to displace Palestinians from their ancestral lands, expand illegal Israeli settlements or annex any part of the occupied Palestinian territories.
The war in Gaza began in October 2023 and has so far killed about 53,000 Palestinians and displaced nearly all of Gaza’s two million residents.
