PM Khan 'did the right thing' by going ahead with Russia tour — Pakistani FM

Pakistan Foreign Minister Shah Mahmood Qureshi during his meeting with his Russian counterpart in Moscow, Russia, on February 24, 2022. (Photo courtesy: Pakistan foreign office)
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Updated 25 February 2022
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PM Khan 'did the right thing' by going ahead with Russia tour — Pakistani FM

  • Shah Mahmood Qureshi says officials remained in touch with US about the Moscow visit
  • No Pakistani has died in Russia-Ukraine conflict, evacuation efforts are underway, he adds

ISLAMABAD: Prime Minister Imran Khan "did the right thing" by going ahead with his Russia visit, the Pakistani foreign minister said on Friday, dispelling the notion the visit was ill-timed in view of the Russian invasion of Ukraine.

Prime Minister Khan was in Russia on a two-day official visit on Feb 23-24, during which he held talks with President Vladimir Putin on wide-ranging issues and discussed bilateral relations between Pakistan and Russia. 




People try to get onto buses to leave Kyiv, Ukraine, Thursday, Feb. 24, 2022. (AP)

While the Pakistani premier was in Russia, Putin asked Ukrainian armed forces to lay down arms in a televised address before ordering his troops to launch an invasion by land, air and sea on Thursday.  

On Friday, Pakistan's foreign minister Shah Mahmood Qureshi said PM Khan met with Pakistani officials and even former diplomats, who had served in Russia, to take their input prior to the Moscow visit. 

"We decided to continue with the tour to maximize Pakistan’s diplomatic space," Qureshi said at a press conference on Friday.  

"I am completely convinced now after the visit that we did the right thing by going ahead." 

Pakistani officials also remained in touch with the United States (US) regarding the visit, according to the Pakistani foreign minister. 

A senior US official contacted Islamabad and they were informed that "Pakistan was not part of any superpower club" or bloc, Qureshi said.  

"We are not part of any camp politics and neither we have this policy to become part of any particular camp. We have suffered a lot due to this in the past," the foreign minister said.  

"We have shifted our policy from geopolitics to geo-economics. We will have good relations with all." 

For geo-economics, he said, a natural conclusion for this was to make progress on regional connectivity, Afghanistan and beyond Afghanistan, into the Central Asian republics.  

"Then Russia has an historical role in this region," he said. "Russia being onboard will fortify our focus towards geo-economic regional connectivity." 

About Pakistanis stranded in Ukraine, the foreign minister said it was the government's priority to ensure their safe and secure evacuation. No Pakistani has died in the conflict so far and reports suggesting otherwise were all rumors, he said. 

"We are in contact with our embassy and I talked to them on telephone," Qureshi said. "They were given clear instructions before the trip to Moscow and asked to ensure safety of Pakistani diaspora." 

Around 3,000 Pakistanis were currently there in Ukraine, according to the Pakistani foreign minister.  

"We have shifted embassy to Ternopil which is close to the Polish border and trying to shift Pakistani students there," he said. "It would be easy to evacuate to Poland from there and then further to Pakistan."  

On Thursday, Ambassador Dr. Noel Israel Khokhar told Arab News all Pakistani nationals in Ukraine were safe and the embassy was working on their evacuation. 

“On our advice, many Pakistanis had already left the country,” he said. “Only a few students are left behind and we are making arrangements for their safe and secure evacuation from Ukraine.” 

“We have asked all students who could not go out of Ukraine to gather at a safe place in Ternopil city [in the western part of the country] and our counselor assistant is also in contact with them,” the envoy added. “We will then work things out from there after assessing the situation.” 

Pakistani students, however, said they had been asked by their university officials to leave their apartments and move to underground metro stations to ensure their safety. 

“We were living in our apartments but received instructions from our university administration to shift to metro stations,” Maas Hassan, who is enrolled in Kharkiv National Medical University in the Ukraine’s northeast, said.  

“No one is listening to us and we appeal to the Pakistani government and Prime Minister Imran Khan to arrange our evacuation on priority.” 

“We are around 700 Pakistani students in Kharkiv and about 15 have returned to their country,” Ali Hamza, a first-year medical student from Jhang, said. “All others are still stranded here.” 

A Pakistani student Munam Khan said the embassy was not cooperating with the students. 

“Our embassy is not cooperating with us at all,” he told Arab News. “A few weeks ago, they told us they would arrange special PIA flights for us if the war broke out, but nothing is being done now.” 


India denies Kabaddi team permission to tour Pakistan amid political tensions

Updated 4 sec ago
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India denies Kabaddi team permission to tour Pakistan amid political tensions

  • India’s Kabaddi team was scheduled to play friendly matches against Pakistan on Nov. 19, 21 and 23
  • Development takes place amid India’s refusal to allow cricket team to tour Pakistan for Champions Trophy

ISLAMABAD: The Indian government has denied permission to its Kabaddi team to travel to Pakistan for a bilateral series scheduled from Nov. 19-23, state-run media reported this week amid political tensions between the two countries. 
Political tensions between nuclear-armed neighbors India and Pakistan have restricted cultural exchanges and bilateral sports events between the two nations. 
The two neighbors have fought three wars, two of them over the Muslim-majority Himalayan region of Kashmir, which they both claim in full but rule in part.
Kabaddi, a sport that originated in South Asia, is popular in both countries. The game is played with two teams of 12 players, seven on court, and five in reserve. It consists of two halves of 20 minutes each during which two teams compete., alternating between defense and offense.
“Our counterparts in India have conveyed their inability to send their team to Pakistan,” the Associated Press of Pakistan (APP) quoted Pakistan Kabaddi Federation (PKF) Secretary Muhammad Sarwar Rana as saying on Thursday.
“We regret this decision as we had eagerly anticipated hosting them here.”
The Indian team was scheduled to play against Pakistan on Nov. 19 in Katarpur, Nov. 21 in Lahore and Nov. 23 in Bahawalpur, APP said. It added that the PKF was trying to arrange alternative exhibition matches due to the cancelation.
The development takes place a few days after the Pakistan Cricket Board (PCB) said it had been informed by the ICC that the Indian government had denied its cricket team permission to travel to Pakistan for next year’s Champions Trophy tournament. 
The PCB has reportedly sought clarification from the ICC on India’s refusal. 
India’s national cricket team has not toured Pakistan since 2008 due to soured political relations between the two neighbors, who play each other only in global multi-team tournaments at neutral venues. 
Pakistan hosted the Asia Cup last year but was forced to shift all of India’s matches to Sri Lanka under a “hybrid model” after India refused to send its team to Pakistan. 
APP said the Indian blind cricket team was also awaiting its government’s nod to participate in the upcoming fourth edition of the T20 World Cup, scheduled to be held from Nov. 23 -Dec. 3 in Pakistan’s Lahore and Multan cities.
“According to media reports, despite securing a No Objection Certificate (NOC) from the sports ministry, the Indian blind team has yet to receive final approval from the Ministry of Home Affairs and Ministry of External Affairs,” it said.


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.