Pakistani PM hopes for independent Palestine, says global opinion turning against Israel

A screen grab taken from Pakistan premier Imran Khan's video message on the Israel-Palestine conflict, released on May 21, 2021 by Prime Minister's Office. (Photo courtesy: @PakPMO/Twitter)
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Updated 22 May 2021
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Pakistani PM hopes for independent Palestine, says global opinion turning against Israel

  • Khan recalls how the world's powerful states favored the apartheid regime in South Africa before changing stance due to world opinion against racism
  • The Pakistani PM says he found out about the Al-Aqsa attack and eviction of Palestinian families while visiting the Prophet’s Mosque in Madinah

ISLAMABAD: Prime Minister Imran Khan said in a video message on Friday that global public opinion was gradually beginning to turn against Israel, hoping that the people of Palestine would soon have their own independent country. 

"I can see that the international public opinion on the [Palestinian] issue is changing," he said as the Pakistani nation observed Palestine Solidarity Day. "I have spent a lot of time in the West, but I never witnessed newspapers or politicians in those countries criticize Israel when it perpetrated similar brutalities in the past ... This is the first time the Western media and politicians have condemned Israel." 

Khan attributed the change to the rise of social media, saying that it played a vital role in keeping an eye on the mainstream media and allowing people to see what was actually happening in the occupied Palestinian territories. 

The prime minister recalled how the leading powers of the world favored South Africa's apartheid regime in the past, though they ultimately changed their stance when the global public opinion transformed against the apartheid regime. 

"I am quite certain that the changing international public opinion on Palestine will also force the countries supporting Israel to ultimately accept the rights of the Palestinians," he said. "There will come a day when the people of Palestine will get their own country and a just settlement." 

Reflecting on how Israel launched its recent attack on Gaza, Khan said he was visiting the Prophet's Mosque in Madinah on 27th Ramadan when he discovered that Israeli forces had tortured Muslim worshippers in Jerusalem's Al Aqsa Mosque and evicted Palestinian families from their homes. 

This, he said, led to the fresh bout of violence in the region, adding that he took up the issue with the secretary general of the Organization of Islamic Cooperation the next day and urged him to raise it in the United Nations. 

The prime minister said he discussed the development with Saudi Arabia's King Salman bin Abdulaziz after returning home  

"I called Palestinian President Mahmoud Abbas and assured him that we in Pakistan, along with the rest of the Muslim world and those people who believed in justice, firmly stood with him," he continued. "I also instructed [Foreign Minister] Shah Mahmood Qureshi to go to the United Nations General Assembly and raise the issue … I appreciate him for doing it forcefully." 

 

 

Earlier, Pakistan welcomed the announcement of a ceasefire between Israel and Hamas after 11 days of Israeli aerial bombardment that killed hundreds of Palestinian civilians in the Gaza Strip, with the information minister calling it a “leap forward.” 

The Egyptian-mediated truce between Israel and Hamas took hold on Friday at 2:00 a.m. local time, after the worst violence in years.  

Since the crisis began on May 10, Palestinian health officials say 232 people have been killed by Israeli airstrikes on the densely populated Palestinian territory that have worsened Gaza’s already dire humanitarian situation, damaged thousands of homes and disabled critical infrastructure. Rocket attacks fired by Hamas — which controls Gaza — killed 12 people in Israel.  

“Pakistan welcomes the announcement of a cease-fire. This is the power of collective, unified action; this is the effort of every person and every nation, together for a just cause. May this ceasefire be the 1st step toward peace in Palestine,” Pakistani Foreign Minister Shah Mahmood Qureshi said in a tweet on Friday morning. 




 Pakistan's Foreign Minister Makhdoom Shah Mahmood Qureshi gives a joint press conference with his German counterpart on April 12, 2021 at the Foreign Office in Berlin. (AFP/File) 

Qureshi met António Guterres, UN Secretary-General, on Friday and “heard our deep concern for the people of #Palestine and Pakistan’s unwavering support for their right to self determination.”  

“While cease-fire is welcomed, Israel’s occupation of Palestine must end,” he added.  

Federal Minister for Information Chaudhry Fawad Hussain on Friday termed the ceasefire a “leap forward” and vowed to continue diplomatic efforts for peace in the Middle East.  

“Prime Minister Imran Khan has been leading this diplomatic effort to expose Israeli onslaught against Palestinians,” he said in a briefing with a select group of foreign media reporters in Islamabad.  

The information minister said the prime minister was “liaising closely” with other OIC countries to put an end to Israeli atrocities against innocent Palestinians.  

“We reaffirm our political, moral and diplomatic support to Palestinians and will continue raising this issue at all international platforms,” the information minister added.  

A day earlier, Qureshi — who was on a Palestine peace mission at a United Nations General Assembly emergency meeting called by the Organization of Islamic Cooperation (OIC) and the Arab League — called on the UN to hold Israel accountable for its “war crimes.”  

“Israel’s crimes against humanity should not escape accountability,” he said. “There should be no impunity for violation of international law.”  

Over 50,000 Palestinians have been rendered homeless by the recent Israeli attacks on the Gaza Strip where they already have limited access to water, food and health services.  

The recent attacks were the deadliest outbreak of violence in the region since the seven-week Israeli war on Gaza in 2014, during which 2,300 Palestinians were killed as Israeli forces bombed residential buildings, hospitals and schools.  

On Friday, Palestinians who had spent 11 days huddled in fear of Israeli shelling poured into Gaza’s streets, embracing one another in celebration in front of bombed-out buildings on streets covered in wreckage.  

Mosque loudspeakers feted “the victory of the resistance achieved over the Occupation (Israel).” Cars driving around East Jerusalem’s Sheikh Jarrah at dawn flew Palestinian flags and honked horns, echoing the scenes in Gaza.  

In the countdown to the 2 a.m. (2300 GMT Thursday) cease-fire, Palestinian rocket salvoes continued and Israel carried out at least one air strike.  

Each side said it was ready to retaliate for any truce violations by the other. Egypt said it would send two delegations to monitor the cease-fire it had mediated. 


IMF staff concludes Pakistan visit, urges Islamabad to decrease state intervention in economy

Updated 16 November 2024
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IMF staff concludes Pakistan visit, urges Islamabad to decrease state intervention in economy

  • IMF delegation visited Pakistan from Nov. 12-15 to discuss economic policies, reform efforts
  • Both sides agreed Islamabad needs to mobilize revenue from “untapped tax bases,” says IMF official

ISLAMABAD: The International Monetary Fund (IMF) announced this week it had concluded its state visit to Pakistan, calling on Islamabad to decrease state intervention in the economy, mobilize revenue via tax reforms and adopt prudent fiscal policies. 
The IMF released its statement late Friday as a delegation led by its Pakistan mission chief, Nathan Porter, completed a five-day trip to the country during which it discussed the performance of a $7 billion loan program approved in September. 
The IMF has clarified Porter’s visit is not part of the first review of the loan program, which is not scheduled to take place before the first quarter of 2025.
The international lender has repeatedly called on Pakistan to undertake tax and energy reforms as well as privatize state-owned assets which it says are critical to revitalize its fragile $350 billion economy. 
“Structural energy reforms and constructive efforts are critical to restore the sector’s viability, and Pakistan should take steps to decrease state intervention in the economy and enhance competition, which will help foster the development of a dynamic private sector,” Porter said in a statement. 
The IMF official said both sides agreed with the need for Islamabad to continue prudent fiscal and monetary policies, mobilizing revenue from “untapped tax bases” and transferring greater social and development responsibilities to provinces.
“Strong program implementation can create a more prosperous and more inclusive Pakistan, improving living standards for all Pakistanis,” Porter said. 
In an earlier statement on Friday, the IMF urged Pakistan to digitalize its budget preparation and execution processes to improve fiscal monitoring and reporting to overcome deviations from the planned budgets.
IMF loan bailouts are critical for Pakistan, which narrowly avoided a sovereign default last year before clinching a last-gasp $3 billion loan from the international lender. 
Pakistan’s finance minister has repeatedly stressed implementing painful reforms to ensure the country does not seek loans repeatedly from the global lender at exorbitant interest rates.


Pakistan’s Ayla Majid becomes first South Asian and Muslim to be elected ACCA president

Updated 16 November 2024
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Pakistan’s Ayla Majid becomes first South Asian and Muslim to be elected ACCA president

  • Ayla Majid is the CEO of a firm that advises on decarbonization, sustainability and energy transition 
  • She will lead 252,500 members and 526,000 future members of ACCA across 180 countries during her tenure

ISLAMABAD: Ayla Majid, the chief executive officer of a firm that advises on decarbonization, sustainability and energy transition, made history this week after becoming the first South Asian and Muslim to get elected as president of the global accountancy body ACCA (Association of Chartered Certified Accountants). 
Majid will lead more than 252,500 members and 526,000 future members of ACCA across 180 countries during her year-long term of office, ACCA wrote on its website on Friday. 
Currently the founder and CEO of Planetive Middle East and Planetive Pakistan, Majid has over 20 years of experience in energy, transaction advisory, mergers and acquisitions, investments and corporate governance. 
She holds a Master of Business Administration degree from the Lahore University of Management Sciences (LUMS) and a Bachelor of Law degree from the University of London.
“It’s an honor and a deeply meaningful moment, not just for me but for so many who see themselves in this achievement,” Majid told Arab News via email on Friday. 
“Breaking these barriers reflects the values of inclusion and diversity that ACCA embodies,” she added. “Personally, it’s a testament to the power of resilience and the importance of representation.”
Majid said the accounting and finance profession globally is evolving rapidly in response to the demands of a changing world, explaining that issues such as sustainability, digital transformation and evolving regulatory landscapes are reshaping the skills accountants need.
“Additionally, we must ensure the profession remains relevant in addressing societal challenges such as climate change and economic inequality,” she said. 
“ACCA can play a pivotal role by continuously enhancing its qualifications to include skills in sustainability reporting, digital transformation, and strategic leadership.”
Majid called for global collaboration and championing inclusion, saying that through such initiatives, ACCA can prepare its members to not just respond to challenges but “lead with purpose and impact.”
“My vision for ACCA is to continue being a catalyst for positive change, working alongside diverse group of partners and collaborate more on global agendas,” Majid said. 
“By strengthening our advocacy on global issues like climate action and economic resilience, we can shape a better future,” she added.


Pakistan keeps prices of petroleum products unchanged till Nov. 30

Updated 16 November 2024
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Pakistan keeps prices of petroleum products unchanged till Nov. 30

  • Prices of high speed diesel, petrol to remain unchanged at Rs255.14 per liter and Rs248.38 per liter respectively
  • Pakistan revises prices of petroleum products every fortnight based on variations of prices at international market 

ISLAMABAD: Pakistan’s government announced its decision this week to keep prices of petroleum products unchanged till the next fortnight on Nov. 30, state-run media reported. 
Pakistan revises petroleum prices every fortnight. Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers in Pakistan while any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.
“The government has announced on Friday that prices of the petroleum products would remain unchanged during the next fortnight from November 16th to 30th 2024,” the state-run Associated Press of Pakistan (APP) reported on Friday. 
As per the latest notification, the price of high speed diesel (HSD) remains unchanged at Rs 255.14 per liter while the price of petrol also remains unchanged at Rs 248.38 per liter. 
“The Oil and Gas Regulatory Authority has worked out the prices of petroleum products for the next fortnight based on the price trends in the international market during the last two weeks,” the APP said. 
On Oct. 31, Pakistani authorities increased the price of petrol from Rs247.03 per liter to Rs248.38 per liter, saying it decided to do so “based on the price variation in the international market.”


Pakistan rejects sole $36 million bid for national flag carrier

Updated 16 November 2024
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Pakistan rejects sole $36 million bid for national flag carrier

  • Blue World City, a real estate development company, last month bid $36 million for state-owned PIA airline
  • Pakistan seeks to offload 51-100% stake in national airline to reform state-owned enterprises as per IMF deal

ISLAMABAD: Pakistan’s Cabinet Committee on Privatization (CCOP) this week rejected a $36 million bid from a real estate development company to acquire 60 percent stakes in the government-owned Pakistan International Airlines (PIA), state-run media reported. 
Pakistan’s process to privatize the PIA encountered difficulties last month when its final bidding round for the national flag carrier attracted just one bid of Rs10 billion ($36 million) for a 60 percent stake in the airline. The bid was made by real estate development company Blue World City. 
The cash-strapped country is looking to offload a 51-100 percent stake in the debt-ridden PIA to raise funds and reform state-owned enterprises as envisaged under a $7 billion International Monetary Fund (IMF) program. 
A meeting of the CCOP chaired by Deputy Prime Minister Ishaq Dar on Friday discussed Blue World City’s bid and the Privatization Commission’s (PC) suggestion to reject it. 
“The Cabinet Committee on Privatization (CCOP) rejected the bid of Rs10 billion submitted by the Blue World City for the divestment of 60 percent shares of the Pakistan International Airlines, accepting the recommendations of the Privatization Commission Board,” the state-run Associated Press of Pakistan (APP) reported on Friday.
The CCOP reiterated the government’s resolve to divest the national flag carrier through privatization or government-to-government (G2G) mode. 
“The body noted with satisfaction the assessment of the aviation division on healthy PIACL’s finances,” APP said. 
Pakistan’s government disclosed last year that it had signed a contract with the New York City administration to resume business activities at the Roosevelt Hotel, which is owned by the PIA. 
The hotel was closed by Pakistani authorities in October 2020 during the coronavirus pandemic, as the country’s economy weakened and the aviation sector faced significant losses. However, the facility accumulated liabilities of around $25 million in taxes and other overheads.
“The committee also constituted a committee under the convenorship of the minister of state for finance to evaluate possible transaction options for the privatization of Roosevelt Hotel and modes to be adopted in the light of available legal provisions,” APP said. 
Pakistan’s Khyber Pakhtunkhwa (KP) province and a business group in Canada led by a Pakistani expat have both expressed their interest in acquiring the national flag carrier. 
The government had pre-qualified six groups for PIA’s privatization process in June, but only real-estate development company Blue World City participated in the bidding process last month, placing a bid that was below the government-set minimum price of Rs85 billion ($304 million). 
The disposal of PIA is a step former governments have steered away from, as it has been highly unpopular given the number of layoffs that would likely result from it.
Other concerns raised by potential bidders for the PIA stake included inconsistent government communication, unattractive terms and taxes on the sector, and the flag carrier’s legacy issues and reputation.


IMF urges Pakistan to digitalize budget preparation for better fiscal monitoring

Updated 16 November 2024
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IMF urges Pakistan to digitalize budget preparation for better fiscal monitoring

  • The international lender says budget processes still involve manual and paper-based steps despite reforms
  • IMF has pointed out Pakistan’s interest payments absorb 60 percent of budgeted revenue due to public debt

ISLAMABAD: The International Monetary Fund (IMF) has suggested Pakistan to digitalize its budget preparation and execution processes to improve fiscal monitoring and reporting to overcome deviations from the planned budgets.
In a technical assistance report to improve budget practice brought out this week, the international lender said Pakistan needed to take strong control over the budget in the coming years.
The report came as an IMF delegation led by Pakistan mission chief, Nathan Porter, completed a five-day trip to the country in which it discussed the performance of a $7 billion loan program approved in September. The IMF has said Porter’s visit is not part of the first review of the loan program, which is not scheduled to take place before the first quarter of 2025.
“An examination of Pakistan’s recent budgetary outcomes reveals substantial deviations from planned budgets,” the lender said in the report. “While these discrepancies are partially due to an unstable external environment and political uncertainties, the establishment of stronger fiscal institutions can help deliver a more credible budget, tighten its execution, and prevent policy slippages.”
The IMF pointed out that despite several reforms, the budget processes still involved significant manual and paper-based steps.
“Fully digitalized processes are yet to be prepared and implemented in the Financial Accounting and Budgeting System,” it said in the report. “The Finance Division has designed a data warehouse to store fiscal data and made available a set of dashboards for use by stakeholders, but this is hampered by the lack of timely data provided by some key entities. As a result, fiscal reporting is not yet comprehensive and timely.”
It added that regulatory framework and fiscal data governance practices, including data exchange, did not fully address these challenges.
The IMF also noted Pakistan’s public debt had increased considerably, and interest payments were now absorbing 60 percent of budgeted revenue.
However, it recognized that multiple external shocks and the unprecedented floods in 2022 buffeted the economy and the government’s fiscal position.
“These shocks have been compounded by policy slippages including unbudgeted subsidies, and delays in implementing revenue measures,” it continued, adding the authorities now had the difficult task of converting a primary deficit of 1.3 percent of GDP for FY23 into a primary surplus for FY24. It also emphasized continued fiscal restraint, while preserving essential social and development spending.
The international lender suggested the finance division to require line ministries to prepare their budget submissions within a binding budget ceiling and explain any request for additional resources.
“Consider a reorganization of the Finance Division to reduce fragmentation and improve effective decision-making,” the reported suggested. “Support the reorganization with a functional review of the Division’s structure and staffing.”